Contango Ore (NYSEAMERICAN:CTGO) Stock Price Crosses Above 50 Day Moving Average of $0.00

Contango Ore, Inc. (NYSEAMERICAN:CTGO)’s share price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $0.00 and traded as high as $20.13. Contango Ore shares last traded at $20.09, with a volume of 10,422 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CTGO shares. Roth Mkm restated a “buy” rating and issued a $38.00 price target on shares of Contango Ore in a research note on Monday, March 25th. Cormark began coverage on shares of Contango Ore in a research note on Friday, March 22nd. They set a “buy” rating and a $27.50 target price 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.

Contango Ore Trading Down 0.3 %

The firm has a market capitalization of $193.47 million, a PE ratio of -3.33 and a beta of 0.56. The company has a debt-to-equity ratio of 2.98, a current ratio of 4.02 and a quick ratio of 4.02.

Insider Activity at Contango Ore

In other Contango Ore news, CEO Nieuwenhuyse Rick Van sold 3,000 shares of Contango Ore stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $22.00, for a total value of $66,000.00. Following the transaction, the chief executive officer now owns 500,896 shares in the company, valued at $11,019,712. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Joseph S. Compofelice sold 2,920 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $20.60, for a total transaction of $60,152.00. Following the sale, the director now owns 160,958 shares of the company’s stock, valued at approximately $3,315,734.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Nieuwenhuyse Rick Van sold 3,000 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $22.00, for a total value of $66,000.00. Following the completion of the transaction, the chief executive officer now directly owns 500,896 shares of the company’s stock, valued at approximately $11,019,712. The disclosure for this sale can be found here. Insiders have sold 29,045 shares of company stock valued at $605,171 over the last three months. 17.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Contango Ore

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTGO. Mather Group LLC. acquired a new stake in Contango Ore during the 1st quarter worth about $28,000. Bank of New York Mellon Corp increased its holdings in Contango Ore by 5.9% in the third quarter. Bank of New York Mellon Corp now owns 11,190 shares of the company’s stock worth $203,000 after purchasing an additional 621 shares in the last quarter. Wittenberg Investment Management Inc. increased its holdings in Contango Ore by 17.4% in the third quarter. Wittenberg Investment Management Inc. now owns 24,323 shares of the company’s stock worth $441,000 after purchasing an additional 3,600 shares in the last quarter. Luminus Management LLC acquired a new position in Contango Ore in the third quarter valued at approximately $509,000. Finally, Sprott Inc. grew its position in shares of Contango Ore by 0.3% during the 4th quarter. Sprott Inc. now owns 480,234 shares of the company’s stock worth $8,697,000 after buying an additional 1,384 shares during the period. 19.14% of the stock is currently owned by institutional investors and hedge funds.

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.