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

Contango ORE logo with Basic Materials background

Contango ORE, Inc. (NYSEAMERICAN:CTGO - Get Free Report) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $19.20 and traded as high as $20.71. Contango ORE shares last traded at $20.42, with a volume of 82,857 shares changing hands.

Contango ORE Stock Performance

The company has a 50 day moving average price of $19.77 and a 200-day moving average price of $13.83. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 20.71. The company has a market cap of $249.76 million, a P/E ratio of -5.84 and a beta of -0.08.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CTGO. Gabelli Funds LLC raised its stake in Contango ORE by 18.8% during the 1st quarter. Gabelli Funds LLC now owns 126,479 shares of the company's stock worth $1,291,000 after buying an additional 20,000 shares during the period. Wealthedge Investment Advisors LLC purchased a new stake in shares of Contango ORE in the first quarter worth approximately $142,000. Nuveen LLC bought a new position in shares of Contango ORE in the first quarter valued at approximately $139,000. Wittenberg Investment Management Inc. grew its holdings in shares of Contango ORE by 30.5% in the first quarter. Wittenberg Investment Management Inc. now owns 47,470 shares of the company's stock valued at $485,000 after acquiring an additional 11,100 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Contango ORE by 11.1% in the first quarter. Bank of New York Mellon Corp now owns 24,878 shares of the company's stock valued at $254,000 after acquiring an additional 2,494 shares in the last quarter. 19.14% of the stock is owned by institutional investors and hedge funds.

Contango ORE Company Profile

(Get Free Report)

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.

Further Reading

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