Contango Ore (NYSEAMERICAN:CTGO) Issues Quarterly Earnings Results

Contango Ore (NYSEAMERICAN:CTGO) announced its quarterly earnings results 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 Price Performance

NYSEAMERICAN:CTGO opened at $18.76 on Friday. Contango Ore has a fifty-two week low of $17.01 and a fifty-two week high of $33.67.

Wall Street Analysts Forecast Growth

Separately, Maxim Group assumed coverage on shares of Contango Ore in a research note on Thursday. They issued a “buy” rating and a $36.00 target price on the stock.

Institutional Trading of Contango Ore

Several large investors have recently modified their holdings of the business. Citigroup Inc. lifted its position in 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 buying an additional 552 shares during the period. UBS Group AG boosted its position in shares of Contango Ore by 87.6% during the fourth quarter. UBS Group AG now owns 2,174 shares of the company’s stock valued at $48,000 after buying an additional 1,015 shares during the last quarter. California State Teachers Retirement System bought a new stake in shares of Contango Ore in the second quarter worth approximately $32,000. Wells Fargo & Company MN grew its position in Contango Ore by 7,310.0% in the 2nd quarter. Wells Fargo & Company MN now owns 1,482 shares of the company’s stock worth $38,000 after purchasing an additional 1,462 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Contango Ore by 576.5% in the second 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. 12.91% of the stock is owned by institutional investors.

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.