Sprott Inc. Sells 173,977 Shares of Contango Ore, Inc. (NYSEAMERICAN:CTGO)

Sprott Inc. lessened its stake in Contango Ore, Inc. (NYSEAMERICAN:CTGO) by 73.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,324 shares of the company’s stock after selling 173,977 shares during the quarter. Sprott Inc. owned about 0.50% of Contango Ore worth $615,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of Contango Ore in the third quarter valued at approximately $40,000. Quantbot Technologies LP bought a new position in Contango Ore in the 3rd quarter valued at $57,000. JPMorgan Chase & Co. increased its stake in shares of 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 buying an additional 1,129 shares during the period. Bank of New York Mellon Corp raised its position in shares of Contango Ore by 8.4% during the fourth quarter. Bank of New York Mellon Corp now owns 22,384 shares of the company’s stock worth $224,000 after acquiring an additional 1,737 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Contango Ore by 372.7% during the third 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 period. 19.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Fundamental Research set a $29.67 price target on Contango Ore and gave the company a “buy” rating in a report on Wednesday, February 19th.

Insider Activity

In related news, Director John B. Juneau bought 8,300 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was bought at an average cost of $11.83 per share, for a total transaction of $98,189.00. Following the transaction, the director now owns 319,411 shares of the company’s stock, valued at $3,778,632.13. This represents a 2.67 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 17.80% of the stock is currently owned by company insiders.

Contango Ore Trading Up 0.4 %

Shares of NYSEAMERICAN CTGO opened at $9.88 on Wednesday. Contango Ore, Inc. has a fifty-two week low of $9.39 and a fifty-two week high of $25.32. The company has a market capitalization of $120.83 million, a P/E ratio of -1.26 and a beta of 0.55.

About Contango Ore

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.