Contango Ore, Inc. (NYSEAMERICAN:CTGO) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. raised its stake in Contango Ore, Inc. (NYSEAMERICAN:CTGO) by 207.2% in the third quarter, HoldingsChannel.com reports. The fund owned 224,709 shares of the company’s stock after buying an additional 151,559 shares during the quarter. Franklin Resources Inc.’s holdings in Contango Ore were worth $4,393,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of CTGO. Bank of New York Mellon Corp lifted its stake in Contango Ore by 4.5% during the second quarter. Bank of New York Mellon Corp now owns 22,652 shares of the company’s stock valued at $409,000 after purchasing an additional 966 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Contango Ore during the third quarter worth approximately $40,000. Quantbot Technologies LP bought a new stake in Contango Ore in the 3rd quarter valued at $57,000. Rhumbline Advisers lifted its stake in shares of Contango Ore by 55.1% in the second quarter. Rhumbline Advisers now owns 9,565 shares of the company’s stock valued at $173,000 after buying an additional 3,397 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Contango Ore by 27.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 26,389 shares of the company’s stock valued at $508,000 after buying an additional 5,630 shares during the period. Institutional investors and hedge funds own 19.14% of the company’s stock.

Insider Activity

In related news, Director John B. Juneau acquired 8,300 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was bought at an average cost of $11.83 per share, with a total value of $98,189.00. Following the acquisition, the director now owns 319,411 shares of the company’s stock, valued at approximately $3,778,632.13. The trade was a 2.67 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 17.80% of the company’s stock.

Contango Ore Stock Performance

NYSEAMERICAN CTGO opened at $10.30 on Tuesday. Contango Ore, Inc. has a fifty-two week low of $10.08 and a fifty-two week high of $25.32. The firm has a market cap of $125.97 million, a price-to-earnings ratio of -1.32 and a beta of 0.48.

Wall Street Analyst Weigh In

Separately, Roth Mkm lifted their price target on shares of 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 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.