Wittenberg Investment Management Inc. Acquires 4,600 Shares of Contango Ore, Inc. (NYSEAMERICAN:CTGO)

Wittenberg Investment Management Inc. lifted its holdings in Contango Ore, Inc. (NYSEAMERICAN:CTGO) by 14.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,370 shares of the company’s stock after purchasing an additional 4,600 shares during the quarter. Wittenberg Investment Management Inc.’s holdings in Contango Ore were worth $364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CTGO. Charles Schwab Investment Management Inc. boosted its position in Contango Ore by 27.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 26,389 shares of the company’s stock worth $508,000 after purchasing an additional 5,630 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Contango Ore during the 3rd quarter valued at about $57,000. State Street Corp grew its stake in shares of Contango Ore by 11.3% during the 3rd quarter. State Street Corp now owns 156,606 shares of the company’s stock valued at $3,016,000 after acquiring an additional 15,859 shares during the period. Jane Street Group LLC purchased a new stake in Contango Ore in the 3rd quarter worth approximately $273,000. Finally, Barclays PLC raised its stake in Contango Ore by 372.7% during the 3rd quarter. Barclays PLC now owns 13,987 shares of the company’s stock worth $270,000 after acquiring an additional 11,028 shares during the period. 19.14% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Nieuwenhuyse Rick Van acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were acquired at an average cost of $10.22 per share, with a total value of $51,100.00. Following the acquisition, the chief executive officer now directly owns 550,869 shares of the company’s stock, valued at approximately $5,629,881.18. The trade was a 0.92 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 17.80% of the company’s stock.

Contango Ore Stock Performance

Shares of NYSEAMERICAN CTGO opened at $10.39 on Friday. The company has a market cap of $127.07 million, a P/E ratio of -1.33 and a beta of 0.55. Contango Ore, Inc. has a 52-week low of $8.85 and a 52-week high of $25.32. The company has a fifty day moving average of $10.19.

Wall Street Analysts Forecast Growth

Separately, Fundamental Research set a $29.67 target price on Contango Ore and gave the company a “buy” rating in a research note on Wednesday, February 19th.

Contango Ore Profile

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.