Contango Ore, Inc. (NYSEAMERICAN:CTGO) Short Interest Up 8.0% in January

Contango Ore, Inc. (NYSEAMERICAN:CTGO) was the recipient of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 722,600 shares, an increase of 8.0% from the January 15th total of 669,100 shares. Currently, 9.3% of the company’s shares are sold short. Based on an average daily volume of 115,300 shares, the days-to-cover ratio is presently 6.3 days.

Contango Ore Stock Performance

CTGO traded down $0.13 on Monday, reaching $10.26. 66,637 shares of the company’s stock were exchanged, compared to its average volume of 80,193. Contango Ore has a twelve month low of $9.65 and a twelve month high of $25.32. The company has a market cap of $125.48 million, a PE ratio of -1.31 and a beta of 0.55.

Insider Activity at Contango Ore

In other news, Director John B. Juneau purchased 8,300 shares of the company’s stock in a transaction on Friday, December 13th. The stock was bought at an average cost of $11.83 per share, for a total transaction of $98,189.00. Following the completion of the purchase, the director now directly owns 319,411 shares of the company’s stock, valued at $3,778,632.13. The trade was a 2.67 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 17.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Contango Ore

Several large investors have recently made changes to their positions in CTGO. Franklin Resources Inc. grew its position in Contango Ore by 207.2% in the third quarter. Franklin Resources Inc. now owns 224,709 shares of the company’s stock valued at $4,393,000 after acquiring an additional 151,559 shares in the last quarter. Geode Capital Management LLC grew its holdings in Contango Ore by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 222,074 shares of the company’s stock valued at $2,226,000 after purchasing an additional 2,378 shares in the last quarter. State Street Corp increased its stake in Contango Ore by 11.3% during the 3rd quarter. State Street Corp now owns 156,606 shares of the company’s stock worth $3,016,000 after buying an additional 15,859 shares during the period. Northern Trust Corp lifted its holdings 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 buying an additional 2,482 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in Contango Ore by 465.2% in the 4th quarter. Marshall Wace LLP now owns 70,438 shares of the company’s stock valued at $706,000 after buying an additional 57,976 shares during the last quarter. Institutional investors and hedge funds own 19.14% of the company’s stock.

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.