Contango ORE (NYSEAMERICAN:CTGO) Share Price Crosses Above Fifty Day Moving Average - Should You Sell?

Key Points

• Contango ORE's stock price recently climbed above its 50-day moving average, reaching $24.00, with a significant trading volume of 271,121 shares.
• Insider transactions reveal a decrease in ownership, with CFO Michael Aaron Clark selling 2,822 shares and Director Richard Shortz selling 33,150 shares of their stock on August 18th.
• Institutional investors have been actively trading shares, with Gabelli Funds LLC increasing its stake by 18.8% in the first quarter, reflecting growing interest in the company.

Contango ORE, Inc. (NYSEAMERICAN:CTGO - )'s stock price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $20.78 and traded as high as $24.04. Contango ORE shares last traded at $24.00, with a volume of 271,121 shares changing hands.

Contango ORE Stock Up 8.0%

The firm has a market capitalization of $304.08 million, a P/E ratio of -88.89 and a beta of -0.17. The company has a debt-to-equity ratio of 20.71, a quick ratio of 0.46 and a current ratio of 0.47. The business's fifty day moving average price is $20.78 and its two-hundred day moving average price is $16.69.

Insider Transactions at Contango ORE

In other news, CFO Michael Aaron Clark sold 2,822 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $21.66, for a total value of $61,124.52. Following the sale, the chief financial officer directly owned 59,970 shares in the company, valued at approximately $1,298,950.20. This trade represents a 4.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard Shortz sold 33,150 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $21.08, for a total transaction of $698,802.00. Following the completion of the sale, the director owned 84,050 shares in the company, valued at $1,771,774. This represents a 28.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.40% of the stock is currently owned by company insiders.

Institutional Trading of Contango ORE

A number of institutional investors have recently bought and sold shares of the stock. Gabelli Funds LLC boosted its stake in Contango ORE by 18.8% in the 1st quarter. Gabelli Funds LLC now owns 126,479 shares of the company's stock worth $1,291,000 after purchasing an additional 20,000 shares in the last quarter. Northern Trust Corp boosted its stake in Contango ORE by 2.9% in the 4th quarter. Northern Trust Corp now owns 86,882 shares of the company's stock worth $871,000 after purchasing an additional 2,482 shares in the last quarter. Minerva Advisors LLC boosted its stake in Contango ORE by 8.6% in the 2nd quarter. Minerva Advisors LLC now owns 76,147 shares of the company's stock worth $1,487,000 after purchasing an additional 6,000 shares in the last quarter. Wittenberg Investment Management Inc. boosted its stake in Contango ORE by 30.5% in the 1st quarter. Wittenberg Investment Management Inc. now owns 47,470 shares of the company's stock worth $485,000 after purchasing an additional 11,100 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in Contango ORE in the 2nd quarter worth approximately $630,000. 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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