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

Contango Ore (NYSEAMERICAN:CTGO) issued 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

CTGO opened at $18.76 on Friday. Contango Ore has a 1 year low of $17.01 and a 1 year high of $33.67.

Institutional Trading of Contango Ore

Large investors have recently bought and sold shares of the stock. Citigroup Inc. grew its holdings in shares of Contango Ore by 99.1% during the second quarter. Citigroup Inc. now owns 1,109 shares of the company’s stock worth $28,000 after purchasing an additional 552 shares during the last quarter. UBS Group AG grew its holdings 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 worth $48,000 after purchasing an additional 1,015 shares during the last quarter. California State Teachers Retirement System bought a new stake in shares of Contango Ore during the second quarter worth $32,000. Wells Fargo & Company MN grew its holdings in shares of Contango Ore by 7,310.0% during the second 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 last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Contango Ore by 576.5% during the second quarter. JPMorgan Chase & Co. now owns 2,970 shares of the company’s stock worth $76,000 after purchasing an additional 2,531 shares during the last quarter. 12.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Contango Ore Company Profile

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.