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 company’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 value of $75,026.40. Following the sale, the director now owns 99,947 shares in the company, valued at approximately $2,062,906.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Contango Ore Stock Performance

CTGO opened at $19.46 on Thursday. Contango Ore, Inc. has a 1-year low of $14.03 and a 1-year 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. The firm has a market capitalization of $186.82 million, a P/E ratio of -3.22 and a beta of 0.54.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CTGO. Cormark started coverage on Contango Ore in a research note on Friday, March 22nd. They set a “buy” rating and a $27.50 price objective on the stock. Fundamental Research set a $23.22 price target on Contango Ore and gave the company a “buy” rating in a research note on Tuesday, February 13th. Finally, Roth Mkm restated a “buy” rating and issued a $38.00 price target on shares of Contango Ore in a research note on Monday.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Citigroup Inc. increased its position in Contango Ore by 99.1% during the 2nd quarter. Citigroup Inc. now owns 1,109 shares of the company’s stock worth $28,000 after buying an additional 552 shares during the period. UBS Group AG increased its position in Contango Ore by 5,168.2% during the 3rd quarter. UBS Group AG now owns 1,159 shares of the company’s stock worth $35,000 after buying an additional 1,137 shares during the period. California State Teachers Retirement System bought a new position in Contango Ore during the 2nd quarter worth $32,000. Wells Fargo & Company MN increased its position in Contango Ore by 7,310.0% during the 2nd quarter. Wells Fargo & Company MN now owns 1,482 shares of the company’s stock worth $38,000 after buying an additional 1,462 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Contango Ore by 576.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,970 shares of the company’s stock worth $76,000 after buying an additional 2,531 shares during the period. Institutional investors own 19.14% of the company’s stock.

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.