Contango Ore, Inc. (NYSEAMERICAN:CTGO) Short Interest Update

Contango Ore, Inc. (NYSEAMERICAN:CTGO) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 722,600 shares, an increase of 8.0% from the January 15th total of 669,100 shares. Based on an average trading volume of 115,300 shares, the short-interest ratio is currently 6.3 days. Approximately 9.3% of the shares of the stock are sold short.

Insiders Place Their Bets

In other news, Director John B. Juneau bought 8,300 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were purchased at an average cost of $11.83 per share, with a total value of $98,189.00. Following the acquisition, the director now directly owns 319,411 shares in the company, valued at $3,778,632.13. This represents a 2.67 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 17.80% of the company’s stock.

Hedge Funds Weigh In On Contango Ore

A number of institutional investors have recently added to or reduced their stakes in CTGO. Deutsche Bank AG boosted its position in Contango Ore by 93.6% during the 4th quarter. Deutsche Bank AG now owns 8,023 shares of the company’s stock worth $80,000 after buying an additional 3,879 shares during the period. Bridgeway Capital Management LLC bought a new stake in Contango Ore during the fourth quarter valued at $200,000. Bank of America Corp DE grew its stake in Contango Ore by 40.1% during the fourth quarter. Bank of America Corp DE now owns 10,262 shares of the company’s stock worth $103,000 after purchasing an additional 2,936 shares during the period. Raffles Associates LP grew its position in shares of Contango Ore by 281.5% during the 4th quarter. Raffles Associates LP now owns 46,554 shares of the company’s stock worth $466,000 after buying an additional 34,351 shares during the period. Finally, Northern Trust Corp increased its stake in Contango Ore by 2.9% in the fourth quarter. Northern Trust Corp now owns 86,882 shares of the company’s stock valued at $871,000 after purchasing an additional 2,482 shares in the last quarter. 19.14% of the stock is currently owned by institutional investors and hedge funds.

Contango Ore Stock Down 1.3 %

Shares of CTGO stock traded down $0.13 on Monday, hitting $10.26. 66,637 shares of the company’s stock were exchanged, compared to its average volume of 80,193. The company has a market cap of $125.48 million, a P/E ratio of -1.31 and a beta of 0.55. Contango Ore has a 12 month low of $9.65 and a 12 month high of $25.32.

About Contango Ore

Contango Ore, Inc, an exploration stage company, engages in the exploration and development of mineral properties in Alaska, the United States. It primarily explores for gold, silver, and copper ores. The company was founded in 2009 and is headquartered in Fairbanks, Alaska.