Wealthedge Investment Advisors LLC Makes New Investment in Contango ORE, Inc. $CTGO

Key Points

• Wealthedge Investment Advisors LLC purchased 13,948 shares of Contango ORE, Inc., valued at approximately $142,000, representing about 0.11% ownership of the company.
• Several institutional investors, including Wells Fargo and Deutsche Bank, have recently increased their stakes in Contango ORE, indicating growing institutional interest in the company.
• Contango ORE shares opened at $22.01 and have a market cap of $278.87 million, with a 12-month price range between $8.85 and $23.95.

Wealthedge Investment Advisors LLC acquired a new position in Contango ORE, Inc. (NYSEAMERICAN:CTGO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,948 shares of the company's stock, valued at approximately $142,000. Wealthedge Investment Advisors LLC owned 0.11% of Contango ORE as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CTGO. Wells Fargo & Company MN raised its position 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 position in shares of 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 purchasing an additional 3,879 shares during the period. Bank of America Corp DE raised its position in shares of 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 purchasing an additional 2,936 shares during the period. GAMMA Investing LLC raised its position in shares of 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 period. Finally, Nuveen LLC bought a new stake in shares of Contango ORE in the first quarter valued at approximately $139,000. Institutional investors own 19.14% of the company's stock.

Insider Activity at Contango ORE

In other news, CFO Michael Aaron Clark sold 2,822 shares of the business's stock in a transaction that occurred on 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 owned 59,970 shares of the company's stock, valued at $1,298,950.20. The trade was a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard Shortz sold 33,150 shares of the business's 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 completion of the sale, the director directly owned 84,050 shares in the company, valued at approximately $1,771,774. This trade represents a 28.28% decrease in their position. The disclosure for this sale can be found here. Insiders own 14.40% of the company's stock.

Contango ORE Stock Performance

Shares of NYSEAMERICAN CTGO traded down $0.0250 during midday trading on Thursday, hitting $20.6450. The company's stock had a trading volume of 19,285 shares, compared to its average volume of 104,392. The stock has a fifty day moving average price of $20.28 and a 200 day moving average price of $15.09. Contango ORE, Inc. 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 firm has a market capitalization of $261.57 million, a price-to-earnings ratio of -76.46 and a beta of -0.16.

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.