Fundamental Research Analysts Give Contango Ore (NYSEAMERICAN:CTGO) a $29.67 Price Target

Fundamental Research set a $29.67 price objective on Contango Ore (NYSEAMERICAN:CTGO - Free Report) in a research note released on Tuesday, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other analysts also recently issued reports on CTGO. Roth Mkm reaffirmed a buy rating and set a $38.00 price objective on shares of Contango Ore in a report on Monday, March 25th. Cormark initiated coverage on Contango Ore in a research report on Friday, March 22nd. They issued a buy rating and a $27.50 price target on the stock.

Contango Ore Stock Up 4.2 %

Shares of Contango Ore stock traded up $0.78 during trading on Tuesday, hitting $19.44. 95,466 shares of the stock traded hands, compared to its average volume of 28,885. The firm has a market cap of $187.21 million, a price-to-earnings ratio of -3.20 and a beta of 0.54. Contango Ore has a twelve month low of $14.03 and a twelve month high of $33.67. The company has a debt-to-equity ratio of 2.98, a current ratio of 4.02 and a quick ratio of 4.02.

Insider Activity

In other news, CEO Nieuwenhuyse Rick Van sold 6,163 shares of the business's stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $20.06, for a total value of $123,629.78. Following the sale, the chief executive officer now owns 493,733 shares in the company, valued at approximately $9,904,283.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Joseph S. Compofelice sold 2,920 shares of the company's stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $20.60, for a total transaction of $60,152.00. Following the transaction, the director now directly owns 160,958 shares in the company, valued at $3,315,734.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nieuwenhuyse Rick Van sold 6,163 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 493,733 shares of the company's stock, valued at approximately $9,904,283.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,045 shares of company stock worth $605,171. Company insiders own 17.80% of the company's stock.

Institutional Trading of Contango Ore

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new position in shares of Contango Ore in the 1st quarter valued at $28,000. Bank of New York Mellon Corp grew its position in shares of Contango Ore by 5.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 11,190 shares of the company's stock worth $203,000 after buying an additional 621 shares during the period. Wittenberg Investment Management Inc. increased its stake in shares of Contango Ore by 17.4% in the 3rd quarter. Wittenberg Investment Management Inc. now owns 24,323 shares of the company's stock valued at $441,000 after acquiring an additional 3,600 shares during the last quarter. Luminus Management LLC acquired a new stake in shares of Contango Ore in the 3rd quarter valued at approximately $509,000. Finally, Vanguard Group Inc. raised its position in shares of Contango Ore by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 172,461 shares of the company's stock valued at $3,423,000 after acquiring an additional 10,848 shares during the period. 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.