Contango Ore (NYSEAMERICAN:CTGO) Stock Passes Above Fifty Day Moving Average – Here’s What Happened

Contango Ore, Inc. (NYSEAMERICAN:CTGO) shares passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $0.00 and traded as high as $18.48. Contango Ore shares last traded at $18.36, with a volume of 60,564 shares changing hands.

Analyst Ratings Changes

Separately, Roth Mkm boosted their target price on Contango Ore from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, October 11th.

Contango Ore Trading Up 2.7 %

The firm has a market capitalization of $224.36 million, a P/E ratio of -2.17 and a beta of 0.57.

Contango Ore (NYSEAMERICAN:CTGO) last released its earnings results on Tuesday, August 13th. The company reported ($1.90) EPS for the quarter, missing the consensus estimate of ($1.40) by ($0.50). Analysts expect that Contango Ore, Inc. will post -2.98 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Joseph S. Compofelice sold 7,460 shares of Contango Ore stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $21.14, for a total transaction of $157,704.40. Following the transaction, the director now owns 148,498 shares in the company, valued at approximately $3,139,247.72. The trade was a 4.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michael Aaron Clark sold 1,375 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $21.66, for a total value of $29,782.50. Following the completion of the sale, the chief financial officer now owns 26,092 shares of the company’s stock, valued at approximately $565,152.72. This represents a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CTGO. State Street Corp increased its holdings in Contango Ore by 11.3% during the 3rd quarter. State Street Corp now owns 156,606 shares of the company’s stock worth $3,016,000 after purchasing an additional 15,859 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Contango Ore in the third quarter worth $273,000. Fore Capital LLC bought a new stake in shares of Contango Ore in the second quarter worth $201,000. Barclays PLC boosted its stake in Contango Ore by 372.7% during the 3rd quarter. Barclays PLC now owns 13,987 shares of the company’s stock valued at $270,000 after acquiring an additional 11,028 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Contango Ore by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 172,461 shares of the company’s stock valued at $3,423,000 after acquiring an additional 10,848 shares during the last quarter. 19.14% of the stock is owned by institutional investors and hedge funds.

Contango Ore Company Profile

Contango Ore, Inc, an exploration stage company, engages in the exploration and development of mineral properties in Alaska, the United States. It primarily explores for gold, silver, and copper ores. The company was founded in 2009 and is headquartered in Fairbanks, Alaska.