Contango Ore (NYSEAMERICAN:CTGO) Issues Earnings Results, Misses Estimates By $0.34 EPS

Contango Ore (NYSEAMERICAN:CTGO) issued its quarterly earnings data on Wednesday. The company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($1.04) by ($0.34), MarketWatch Earnings reports.

Contango Ore Stock Performance

Shares of NYSEAMERICAN:CTGO opened at $18.76 on Friday. Contango Ore has a twelve month low of $17.01 and a twelve month high of $33.67.

Analyst Ratings Changes

Separately, Maxim Group initiated coverage on shares of Contango Ore in a research report on Thursday. They set a “buy” rating and a $36.00 price objective for the company.

Institutional Trading of Contango Ore

Institutional investors have recently modified their holdings of the stock. Citigroup Inc. increased its holdings in shares of Contango Ore by 99.1% in the 2nd quarter. Citigroup Inc. now owns 1,109 shares of the company’s stock valued at $28,000 after acquiring an additional 552 shares during the period. California State Teachers Retirement System acquired a new position in shares of Contango Ore in the 2nd quarter valued at $32,000. UBS Group AG increased its holdings in shares of Contango Ore by 5,168.2% in the 3rd quarter. UBS Group AG now owns 1,159 shares of the company’s stock valued at $35,000 after acquiring an additional 1,137 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Contango Ore by 7,310.0% in the 2nd quarter. Wells Fargo & Company MN now owns 1,482 shares of the company’s stock valued at $38,000 after acquiring an additional 1,462 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Contango Ore by 576.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,970 shares of the company’s stock valued at $76,000 after acquiring an additional 2,531 shares during the period. Hedge funds and other institutional investors own 12.91% of the company’s stock.

About Contango Ore

Contango Ore, Inc, an exploration stage company, engages in the exploration of gold and associated minerals in the United States. It also explores for copper and silver deposits. The company, through its subsidiaries, leases approximately 675,000 acres from the Tetlin Tribal Council and holds approximately 13,000 State of Alaska mining claims for exploration and development; leases mineral rights approximately 8,600 acres of State of Alaska and patented mining claims for exploration from Alaska Hard Rock, Inc; and owns 100% interest in the mineral rights to approximately 214,600 acres of State of Alaska mining claims for exploration located north and northwest of the Manh Choh Project.