Contango Ore, Inc. (NYSEAMERICAN:CTGO) Short Interest Down 15.3% in May

Contango Ore, Inc. (NYSEAMERICAN:CTGO - Get Free Report) saw a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 789,900 shares, a decline of 15.3% from the April 30th total of 933,000 shares. Approximately 9.5% of the shares of the stock are short sold. Based on an average trading volume of 131,500 shares, the short-interest ratio is presently 6.0 days.

Wall Street Analyst Weigh In

Separately, Fundamental Research set a $29.67 price target on shares of Contango Ore and gave the stock a "buy" rating in a research report on Wednesday, February 19th.

Contango Ore Trading Down 4.4%

CTGO traded down $0.93 on Thursday, hitting $20.06. 81,108 shares of the company's stock were exchanged, compared to its average volume of 104,644. The firm has a market cap of $245.33 million, a PE ratio of -2.57 and a beta of 0.55. Contango Ore has a twelve month low of $8.85 and a twelve month high of $25.32. The stock has a fifty day moving average of $14.30 and a two-hundred day moving average of $14.22.

Insiders Place Their Bets

In related news, CEO Nieuwenhuyse Rick Van bought 10,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was purchased at an average cost of $9.98 per share, for a total transaction of $99,800.00. Following the completion of the acquisition, the chief executive officer now owns 545,869 shares in the company, valued at $5,447,772.62. This trade represents a 1.87% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders acquired 22,500 shares of company stock worth $253,650. Insiders own 17.80% of the company's stock.

Institutional Investors Weigh In On Contango Ore

Several large investors have recently made changes to their positions in the company. Wells Fargo & Company MN increased its stake in shares of Contango Ore by 36.3% during the fourth quarter. Wells Fargo & Company MN now owns 5,715 shares of the company's stock valued at $57,000 after acquiring an additional 1,522 shares during the period. Deutsche Bank AG increased its stake in shares of Contango Ore by 93.6% during the fourth quarter. Deutsche Bank AG now owns 8,023 shares of the company's stock valued at $80,000 after acquiring an additional 3,879 shares during the period. Quantbot Technologies LP increased its stake in shares of Contango Ore by 173.3% during the fourth quarter. Quantbot Technologies LP now owns 8,022 shares of the company's stock valued at $80,000 after acquiring an additional 5,087 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Contango Ore by 32.0% during the third quarter. JPMorgan Chase & Co. now owns 4,657 shares of the company's stock valued at $90,000 after acquiring an additional 1,129 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Contango Ore by 40.1% during the fourth quarter. Bank of America Corp DE now owns 10,262 shares of the company's stock valued at $103,000 after acquiring an additional 2,936 shares during the period. Institutional investors and hedge funds own 19.14% of the company's stock.

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.