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) EPS for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.34), MarketWatch Earnings reports.

Contango Ore Stock Up 5.1 %

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.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. raised its stake in shares of Contango Ore by 99.1% during the second quarter. Citigroup Inc. now owns 1,109 shares of the company’s stock valued at $28,000 after purchasing an additional 552 shares in the last quarter. California State Teachers Retirement System bought a new position in Contango Ore in the 2nd quarter valued at about $32,000. UBS Group AG increased its stake in Contango Ore by 5,168.2% during the 3rd quarter. UBS Group AG now owns 1,159 shares of the company’s stock valued at $35,000 after buying an additional 1,137 shares during the period. Wells Fargo & Company MN raised its position in shares of Contango Ore by 7,310.0% during the 2nd quarter. Wells Fargo & Company MN now owns 1,482 shares of the company’s stock worth $38,000 after buying an additional 1,462 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake 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 worth $76,000 after acquiring an additional 2,531 shares during the period. Institutional investors and hedge funds own 12.91% of the company’s stock.

Analyst Ratings Changes

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

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.