Raffles Associates LP Has $466,000 Stake in Contango Ore, Inc. (NYSEAMERICAN:CTGO)

Raffles Associates LP lifted its holdings in shares of Contango Ore, Inc. (NYSEAMERICAN:CTGO - Free Report) by 281.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,554 shares of the company's stock after purchasing an additional 34,351 shares during the quarter. Raffles Associates LP owned approximately 0.38% of Contango Ore worth $466,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new stake in shares of Contango Ore during the 3rd quarter worth $40,000. Wells Fargo & Company MN boosted its holdings in 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. Quantbot Technologies LP grew its position in shares of Contango Ore by 173.3% in the fourth quarter. Quantbot Technologies LP now owns 8,022 shares of the company's stock valued at $80,000 after purchasing an additional 5,087 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Contango Ore by 32.0% in the third quarter. JPMorgan Chase & Co. now owns 4,657 shares of the company's stock worth $90,000 after purchasing an additional 1,129 shares during the period. Finally, Barclays PLC lifted its position in shares of Contango Ore by 14.7% during the 4th quarter. Barclays PLC now owns 16,037 shares of the company's stock worth $161,000 after purchasing an additional 2,050 shares during the last quarter. Institutional investors own 19.14% of the company's stock.

Insider Activity at Contango Ore

In other news, CEO Nieuwenhuyse Rick Van purchased 10,000 shares of the business's stock in a transaction dated Tuesday, March 25th. The shares were bought 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 directly owns 545,869 shares in the company, valued at approximately $5,447,772.62. This trade represents a 1.87 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought a total of 22,500 shares of company stock worth $253,650 in the last quarter. Corporate insiders own 17.80% of the company's stock.

Wall Street Analysts Forecast Growth

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

Contango Ore Price Performance

Shares of Contango Ore stock traded up $0.20 on Tuesday, hitting $14.14. 44,614 shares of the company's stock traded hands, compared to its average volume of 99,188. The firm's 50-day moving average price is $11.15 and its two-hundred day moving average price is $14.10. The stock has a market capitalization of $172.93 million, a PE ratio of -1.81 and a beta of 0.55. Contango Ore, Inc. has a one year low of $8.85 and a one year high of $25.32.

Contango Ore Company 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.