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

Contango Ore, Inc. (NYSEAMERICAN:CTGO) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 567,700 shares, a growth of 9.4% from the December 15th total of 519,100 shares. Based on an average daily volume of 107,700 shares, the short-interest ratio is currently 5.3 days. Approximately 7.4% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, Roth Mkm increased their price target on shares of Contango Ore from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, October 11th.

Insiders Place Their Bets

In other Contango Ore news, Director John B. Juneau acquired 8,300 shares of the stock in a transaction that occurred 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 purchase, the director now owns 319,411 shares in the company, valued at approximately $3,778,632.13. The trade was a 2.67 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 17.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Contango Ore

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new position in Contango Ore in the third quarter valued at $40,000. Quantbot Technologies LP purchased a new stake in shares of Contango Ore during the 3rd quarter worth about $57,000. JPMorgan Chase & Co. raised its holdings in Contango Ore by 32.0% in the third quarter. JPMorgan Chase & Co. now owns 4,657 shares of the company’s stock valued at $90,000 after buying an additional 1,129 shares during the period. Rhumbline Advisers lifted its position in Contango Ore by 55.1% during the second quarter. Rhumbline Advisers now owns 9,565 shares of the company’s stock valued at $173,000 after buying an additional 3,397 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Contango Ore during the second quarter worth approximately $185,000. Institutional investors and hedge funds own 19.14% of the company’s stock.

Contango Ore Stock Performance

NYSEAMERICAN CTGO traded up $0.62 during mid-day trading on Friday, reaching $11.46. 83,977 shares of the stock were exchanged, compared to its average volume of 111,618. Contango Ore has a 1-year low of $9.65 and a 1-year 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.