Contango Ore (NYSEAMERICAN:CTGO) Price Target Raised to $37.00

Contango Ore (NYSEAMERICAN:CTGO) had its price objective upped by Roth Mkm from $33.00 to $37.00 in a report issued on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Contango Ore Stock Performance

Shares of NYSEAMERICAN:CTGO opened at $19.66 on Friday. Contango Ore has a one year low of $14.03 and a one year high of $25.32. The firm has a market cap of $240.25 million, a price-to-earnings ratio of -2.32 and a beta of 0.59.

Contango Ore (NYSEAMERICAN:CTGO) last released its earnings results on Tuesday, August 13th. The company reported ($1.90) earnings per share for the quarter, missing the consensus estimate of ($1.40) by ($0.50). As a group, equities research analysts forecast that Contango Ore will post -2.98 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Joseph S. Compofelice sold 7,460 shares of the stock in a transaction 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 directly owns 148,498 shares in the company, valued at approximately $3,139,247.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Contango Ore news, CFO Michael Aaron Clark sold 1,375 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $21.66, for a total transaction of $29,782.50. Following the completion of the transaction, the chief financial officer now directly owns 26,092 shares of the company’s stock, valued at $565,152.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph S. Compofelice sold 7,460 shares of Contango Ore stock in a transaction dated 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 transaction, the director now owns 148,498 shares of the company’s stock, valued at $3,139,247.72. This trade represents a 0.00 % 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

Several hedge funds and other institutional investors have recently modified their holdings of CTGO. Vanguard Group Inc. lifted its holdings in Contango Ore by 6.7% in the first quarter. Vanguard Group Inc. now owns 172,461 shares of the company’s stock worth $3,423,000 after purchasing an additional 10,848 shares during the period. Wittenberg Investment Management Inc. raised its position in 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 buying an additional 5,227 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Contango Ore by 4.5% in the 2nd 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 period. Fore Capital LLC purchased a new stake in Contango Ore in the 2nd quarter worth approximately $201,000. Finally, Marshall Wace LLP purchased a new stake in shares of Contango Ore during the second quarter worth $185,000. 19.14% of the stock is owned by institutional investors and hedge funds.

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.