Contango Ore’s (CTGO) Buy Rating Reiterated at Roth Mkm

Roth Mkm reiterated their buy rating on shares of Contango Ore (NYSEAMERICAN:CTGO) in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a $38.00 target price on the stock.

CTGO has been the topic of a number of other research reports. Cormark started coverage on shares of Contango Ore in a report 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 shares of Contango Ore and gave the stock a buy rating in a research note on Tuesday, February 13th.

Contango Ore Trading Down 0.9 %

CTGO opened at $19.46 on Monday. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 2.98. Contango Ore has a one year low of $14.03 and a one year high of $33.67. The stock has a market capitalization of $186.82 million, a PE ratio of -3.22 and a beta of 0.54.

Insider Buying and Selling at Contango Ore

In other news, CEO Nieuwenhuyse Rick Van sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $22.00, for a total transaction of $66,000.00. Following the transaction, the chief executive officer now directly owns 500,896 shares in the company, valued at $11,019,712. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Contango Ore news, Director Richard Shortz sold 3,635 shares of the 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 sale, the director now directly owns 99,947 shares of the company’s stock, valued at approximately $2,062,906.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nieuwenhuyse Rick Van sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were 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 in the company, valued at approximately $11,019,712. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,451 shares of company stock worth $323,004. 17.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Contango Ore

Hedge funds and other institutional investors have recently bought and sold shares of the company. Citigroup Inc. raised 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 last quarter. UBS Group AG increased its stake in shares of Contango Ore by 5,168.2% during the third quarter. UBS Group AG now owns 1,159 shares of the company’s stock worth $35,000 after acquiring an additional 1,137 shares during the period. California State Teachers Retirement System purchased a new position in Contango Ore during the second quarter worth about $32,000. Wells Fargo & Company MN lifted its position in Contango Ore by 7,310.0% in 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 period. Finally, JPMorgan Chase & Co. boosted its holdings in Contango Ore by 576.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,970 shares of the company’s stock valued at $76,000 after purchasing an additional 2,531 shares in the last quarter. 19.14% of the stock is currently owned by hedge funds and other institutional investors.

Contango Ore Company Profile

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.