Contango Ore, Inc. (NYSEAMERICAN:CTGO) Short Interest Down 10.3% in August

Contango Ore, Inc. (NYSEAMERICAN:CTGO) saw a large decline in short interest in August. As of August 31st, there was short interest totalling 425,800 shares, a decline of 10.3% from the August 15th total of 474,900 shares. Approximately 5.9% of the company’s shares are short sold. Based on an average trading volume of 79,800 shares, the days-to-cover ratio is presently 5.3 days.

Contango Ore Stock Performance

Shares of Contango Ore stock opened at $19.12 on Thursday. Contango Ore has a 52 week low of $14.03 and a 52 week high of $25.32.

Contango Ore (NYSEAMERICAN:CTGO) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($1.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.40) by ($0.50). As a group, analysts predict that Contango Ore will post -2.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Roth Mkm reduced their price objective on shares of Contango Ore from $38.00 to $33.00 and set a “buy” rating for the company in a report on Friday, August 9th.

Insider Activity

In other news, Director Joseph S. Compofelice sold 7,460 shares of the company’s stock in a transaction dated 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 $3,139,247.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Contango Ore news, Director Joseph S. Compofelice sold 7,460 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $21.14, for a total value of $157,704.40. Following the completion of the sale, the director now owns 148,498 shares of the company’s stock, valued at $3,139,247.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael Aaron Clark sold 1,375 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 26,092 shares of the company’s stock, valued at approximately $565,152.72. The disclosure for this sale can be found here. 17.80% of the stock is currently owned by company insiders.

Institutional Trading of Contango Ore

Institutional investors and hedge funds have recently made changes to their positions in the company. Fore Capital LLC purchased a new position in Contango Ore during the second quarter worth about $201,000. Vanguard Group Inc. boosted its stake in shares of Contango Ore by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 172,461 shares of the company’s stock worth $3,423,000 after buying an additional 10,848 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Contango Ore in the second quarter valued at approximately $185,000. Wittenberg Investment Management Inc. increased its position in shares of Contango Ore by 21.5% during the first quarter. Wittenberg Investment Management Inc. now owns 29,550 shares of the company’s stock valued at $587,000 after acquiring an additional 5,227 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in Contango Ore by 55.1% during the second quarter. Rhumbline Advisers now owns 9,565 shares of the company’s stock worth $173,000 after acquiring an additional 3,397 shares during the period. Hedge funds and other institutional investors own 19.14% of the company’s stock.

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.