Contango ORE (NYSEAMERICAN:CTGO) Share Price Crosses Above 50 Day Moving Average - Here's What Happened

Key Points

• Contango ORE, Inc. (NYSEAMERICAN:CTGO) stock price has recently surpassed its 50-day moving average of $20.15, reaching a high of $22.67 during trading.
• Several large investors, including Wells Fargo and Deutsche Bank, have significantly increased their stakes in Contango ORE during the fourth quarter.
• The company's current debt-to-equity ratio stands at 20.71, with a market cap of approximately $272.21 million and a P/E ratio of -6.36.

Contango ORE, Inc. (NYSEAMERICAN:CTGO - )'s stock price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $20.15 and traded as high as $22.67. Contango ORE shares last traded at $21.69, with a volume of 81,340 shares changing hands.

Contango ORE Stock Performance

The firm's fifty day moving average price is $20.15 and its 200 day moving average price is $14.68. The company has a debt-to-equity ratio of 20.71, a quick ratio of 0.41 and a current ratio of 0.41. The firm has a market cap of $272.21 million, a P/E ratio of -6.36 and a beta of -0.16.

Hedge Funds Weigh In On Contango ORE

Several large investors have recently made changes to their positions in CTGO. Wells Fargo & Company MN grew its holdings in shares of Contango ORE by 36.3% in the fourth 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 period. Deutsche Bank AG raised its holdings in Contango ORE by 93.6% in 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 in the last quarter. AlphaQuest LLC acquired a new stake in Contango ORE in the second quarter valued at approximately $83,000. Bank of America Corp DE raised its holdings in Contango ORE by 40.1% in 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 in the last quarter. Finally, GAMMA Investing LLC increased its stake in Contango ORE by 4,016.7% in the first 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. 19.14% of the stock is currently owned by institutional investors and hedge funds.

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.

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