Contango ORE, Inc. (NYSEAMERICAN:CTGO) Short Interest Down 20.5% in August

Key Points

• Contango ORE, Inc. experienced a 20.5% decrease in short interest in August, with total short interest falling from 574,000 shares to 456,600 shares.
• Insider transactions include Director Richard Shortz selling 33,150 shares and CFO Michael Aaron Clark selling 2,822 shares, indicating a decrease in their ownership stakes of 28.28% and 4.49%, respectively.
• Hedge funds have increased their stakes, with Tower Research Capital boosting its holdings by 141.6% and Bank of America raising theirs by 22.6% in the second quarter.

Contango ORE, Inc. (NYSEAMERICAN:CTGO - Get Free Report) saw a large decline in short interest during the month of August. As of August 15th, there was short interest totaling 456,600 shares, a decline of 20.5% from the July 31st total of 574,000 shares. Currently, 5.4% of the shares of the stock are short sold. Based on an average daily volume of 87,200 shares, the days-to-cover ratio is currently 5.2 days. Based on an average daily volume of 87,200 shares, the days-to-cover ratio is currently 5.2 days. Currently, 5.4% of the shares of the stock are short sold.

Contango ORE Trading Down 1.7%

CTGO traded down $0.38 during trading on Friday, reaching $22.22. 86,741 shares of the company's stock were exchanged, compared to its average volume of 79,441. Contango ORE has a one year low of $8.85 and a one year high of $23.95. The company has a current ratio of 0.47, a quick ratio of 0.46 and a debt-to-equity ratio of 20.71. The stock has a market capitalization of $281.53 million, a PE ratio of -82.29 and a beta of -0.17. The firm has a fifty day moving average price of $20.70 and a two-hundred day moving average price of $16.56.

Insider Activity at Contango ORE

In related news, Director Richard Shortz sold 33,150 shares of Contango ORE stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $21.08, for a total transaction of $698,802.00. Following the sale, the director directly owned 84,050 shares of the company's stock, valued at approximately $1,771,774. The trade was a 28.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michael Aaron Clark sold 2,822 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $21.66, for a total transaction of $61,124.52. Following the sale, the chief financial officer directly owned 59,970 shares in the company, valued at $1,298,950.20. The trade was a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 14.40% of the company's stock.

Institutional Investors Weigh In On Contango ORE

A number of institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of Contango ORE by 4,016.7% in the 1st quarter. GAMMA Investing LLC now owns 1,235 shares of the company's stock valued at $121,000 after purchasing an additional 1,205 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Contango ORE by 141.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,264 shares of the company's stock valued at $44,000 after purchasing an additional 1,327 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Contango ORE by 22.6% in the 2nd quarter. Bank of America Corp DE now owns 8,038 shares of the company's stock valued at $157,000 after purchasing an additional 1,481 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Contango ORE by 36.3% in the 4th quarter. Wells Fargo & Company MN now owns 5,715 shares of the company's stock valued at $57,000 after purchasing an additional 1,522 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Contango ORE by 14.7% in the 4th quarter. Barclays PLC now owns 16,037 shares of the company's stock valued at $161,000 after purchasing an additional 2,050 shares during the last quarter. 19.14% of the stock is owned by institutional investors.

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.