Contango Ore (NYSEAMERICAN:CTGO) Receives Buy Rating from Roth Mkm

Contango Ore (NYSEAMERICAN:CTGO - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Roth Mkm in a research note issued to investors on Thursday, Benzinga reports. They presently have a $38.00 price target on the stock. Roth Mkm's price objective suggests a potential upside of 87.28% from the company's current price.

A number of other brokerages have also weighed in on CTGO. Cormark began coverage on shares of Contango Ore in a report on Friday, March 22nd. They issued a "buy" rating and a $27.50 price target for the company. Fundamental Research set a $29.67 target price on Contango Ore and gave the company a "buy" rating in a research note on Tuesday.

Contango Ore Trading Up 2.4 %

Shares of CTGO traded up $0.48 during mid-day trading on Thursday, reaching $20.29. The company had a trading volume of 91,522 shares, compared to its average volume of 29,741. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 2.98. The stock has a market cap of $195.39 million, a PE ratio of -3.36 and a beta of 0.54. Contango Ore has a twelve month low of $14.03 and a twelve month high of $33.67.

Contango Ore (NYSEAMERICAN:CTGO - Get Free Report) last posted its earnings results on Tuesday, May 14th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($1.51) by $1.00. On average, sell-side analysts predict that Contango Ore will post -5.82 EPS for the current fiscal year.

Insider Activity

In other news, CEO Nieuwenhuyse Rick Van sold 6,163 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $20.06, for a total transaction of $123,629.78. Following the completion of the transaction, the chief executive officer now directly owns 493,733 shares in the company, valued at approximately $9,904,283.98. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Nieuwenhuyse Rick Van sold 6,163 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $20.06, for a total value of $123,629.78. Following the completion of the sale, the chief executive officer now owns 493,733 shares of the company's stock, valued at approximately $9,904,283.98. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard Shortz sold 3,635 shares of the business's stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $20.64, for a total transaction of $75,026.40. Following the transaction, the director now owns 99,947 shares in the company, valued at $2,062,906.08. The disclosure for this sale can be found here. Insiders have sold 29,045 shares of company stock worth $605,171 over the last ninety days. Insiders own 17.80% of the company's stock.

Hedge Funds Weigh In On Contango Ore

Several institutional investors and hedge funds have recently modified their holdings of the stock. Luminus Management LLC acquired a new stake in Contango Ore during the 3rd quarter worth approximately $509,000. Vanguard Group Inc. increased its position in Contango Ore by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 172,461 shares of the company's stock worth $3,423,000 after buying an additional 10,848 shares during the period. Wittenberg Investment Management Inc. lifted its holdings in shares of Contango Ore by 21.5% during the first quarter. Wittenberg Investment Management Inc. now owns 29,550 shares of the company's stock worth $587,000 after buying an additional 5,227 shares in the last quarter. Mather Group LLC. bought a new stake in shares of Contango Ore in the first quarter valued at about $28,000. Finally, Sprott Inc. boosted its position in shares of Contango Ore by 0.3% in the fourth quarter. Sprott Inc. now owns 480,234 shares of the company's stock valued at $8,697,000 after acquiring an additional 1,384 shares during the period. 19.14% of the stock is currently owned by institutional investors and hedge funds.

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.