Richard Shortz Sells 3,635 Shares of Contango Ore, Inc. (NYSEAMERICAN:CTGO) Stock

Contango Ore, Inc. (NYSEAMERICAN:CTGO) Director Richard Shortz sold 3,635 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $20.64, for a total transaction of $75,026.40. Following the completion of the transaction, the director now owns 99,947 shares in the company, valued at approximately $2,062,906.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Contango Ore Trading Down 1.2 %

Shares of NYSEAMERICAN CTGO traded down $0.25 during trading on Tuesday, hitting $19.86. The stock had a trading volume of 11,685 shares, compared to its average volume of 22,203. Contango Ore, Inc. has a 12 month low of $14.03 and a 12 month high of $33.67. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 2.98.

Analyst Ratings Changes

A number of brokerages have commented on CTGO. Roth Mkm restated a “buy” rating and set a $38.00 price target on shares of Contango Ore in a research note on Monday. Cormark began coverage on shares of Contango Ore in a research note on Friday. They set a “buy” rating and a $27.50 price target for the company. Finally, Fundamental Research set a $23.22 price target on shares of Contango Ore and gave the company a “buy” rating in a research note on Tuesday, February 13th.

Hedge Funds Weigh In On Contango Ore

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Citigroup Inc. lifted its holdings 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 purchasing an additional 552 shares during the last quarter. California State Teachers Retirement System purchased a new stake in Contango Ore during the second quarter valued at about $32,000. UBS Group AG lifted its holdings in Contango Ore by 5,168.2% during the third quarter. UBS Group AG now owns 1,159 shares of the company’s stock valued at $35,000 after purchasing an additional 1,137 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Contango Ore by 7,310.0% during the second quarter. Wells Fargo & Company MN now owns 1,482 shares of the company’s stock valued at $38,000 after purchasing an additional 1,462 shares during the last quarter. Finally, American International Group Inc. lifted its holdings in Contango Ore by 97.0% during the fourth quarter. American International Group Inc. now owns 3,871 shares of the company’s stock valued at $70,000 after purchasing an additional 1,906 shares during the last quarter. 19.14% of the stock is owned by hedge funds and other 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 154,000 acres of State of Alaska mining claims for exploration located north and northwest of the Manh Choh Project.