Fore Capital LLC Takes Position in Contango Ore, Inc. (NYSEAMERICAN:CTGO)

Fore Capital LLC acquired a new stake in Contango Ore, Inc. (NYSEAMERICAN:CTGO) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,100 shares of the company’s stock, valued at approximately $201,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CTGO. Mather Group LLC. bought a new stake in Contango Ore in the first quarter valued at about $28,000. Rhumbline Advisers lifted its position in shares of Contango Ore by 55.1% in the second quarter. Rhumbline Advisers now owns 9,565 shares of the company’s stock worth $173,000 after buying an additional 3,397 shares during the last quarter. Bank of New York Mellon Corp increased its position in Contango Ore by 4.5% during the second quarter. Bank of New York Mellon Corp now owns 22,652 shares of the company’s stock worth $409,000 after acquiring an additional 966 shares during the period. Wittenberg Investment Management Inc. boosted its holdings in Contango Ore by 21.5% during the first quarter. Wittenberg Investment Management Inc. now owns 29,550 shares of the company’s stock valued at $587,000 after purchasing an additional 5,227 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in 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 purchasing an additional 10,848 shares during the last quarter. Institutional investors and hedge funds own 19.14% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CTGO. Roth Mkm reduced their price objective on shares of Contango Ore from $38.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Fundamental Research set a $29.67 price target on shares of Contango Ore and gave the company a “buy” rating in a research note on Tuesday, May 14th.

Insider Activity

In other Contango Ore news, CFO Michael Aaron Clark sold 1,375 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $21.66, for a total value of $29,782.50. Following the sale, the chief financial officer now directly owns 26,092 shares of the company’s stock, valued at $565,152.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.80% of the stock is currently owned by company insiders.

Contango Ore Trading Up 1.2 %

Contango Ore stock opened at $21.25 on Wednesday. Contango Ore, Inc. has a 52 week low of $14.03 and a 52 week high of $25.32.

Contango Ore (NYSEAMERICAN:CTGO) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($1.90) earnings per share for the quarter, missing the consensus estimate of ($1.40) by ($0.50). On average, research analysts forecast that Contango Ore, Inc. will post -2.98 EPS for the current year.

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.