Short Interest in Contango Ore, Inc. (NYSEAMERICAN:CTGO) Grows By 8.0%

Contango Ore, Inc. (NYSEAMERICAN:CTGO) was the target of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 722,600 shares, a growth of 8.0% from the January 15th total of 669,100 shares. Based on an average daily trading volume, of 115,300 shares, the days-to-cover ratio is presently 6.3 days. Approximately 9.3% of the company’s stock are short sold.

Insider Activity at Contango Ore

In other news, Director John B. Juneau bought 8,300 shares of the company’s stock in a transaction on Friday, December 13th. The shares were purchased at an average price of $11.83 per share, with a total value of $98,189.00. Following the transaction, the director now directly owns 319,411 shares in the company, valued at $3,778,632.13. This represents a 2.67 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.80% of the stock is currently owned by insiders.

Institutional Trading of Contango Ore

A number of large investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new stake in shares of Contango Ore in the third quarter valued at approximately $40,000. Quantbot Technologies LP purchased a new position in Contango Ore during the third quarter valued at approximately $57,000. Wells Fargo & Company MN increased its holdings in Contango Ore by 36.3% during the 4th quarter. Wells Fargo & Company MN now owns 5,715 shares of the company’s stock worth $57,000 after acquiring an additional 1,522 shares during the period. Deutsche Bank AG lifted its stake in Contango Ore by 93.6% in the 4th quarter. Deutsche Bank AG now owns 8,023 shares of the company’s stock worth $80,000 after purchasing an additional 3,879 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Contango Ore by 32.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,657 shares of the company’s stock valued at $90,000 after purchasing an additional 1,129 shares during the period. Hedge funds and other institutional investors own 19.14% of the company’s stock.

Contango Ore Price Performance

NYSEAMERICAN:CTGO traded down $0.13 during trading on Monday, reaching $10.26. The company’s stock had a trading volume of 66,637 shares, compared to its average volume of 80,193. The company has a market capitalization of $125.48 million, a PE ratio of -1.31 and a beta of 0.55. Contango Ore has a 12 month low of $9.65 and a 12 month high of $25.32.

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.