Roth Mkm Raises Contango Ore (NYSEAMERICAN:CTGO) Price Target to $37.00

Contango Ore (NYSEAMERICAN:CTGO) had its price objective boosted by research analysts at Roth Mkm from $33.00 to $37.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Roth Mkm’s target price would suggest a potential upside of 88.20% from the stock’s current price.

Contango Ore Stock Up 3.7 %

Shares of NYSEAMERICAN:CTGO traded up $0.70 during trading on Friday, hitting $19.66. 23,611 shares of the company were exchanged, compared to its average volume of 56,974. The firm has a market capitalization of $240.25 million, a price-to-earnings ratio of -2.31 and a beta of 0.59. Contango Ore has a fifty-two week low of $14.03 and a fifty-two week high of $25.32.

Contango Ore (NYSEAMERICAN:CTGO) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($1.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.40) by ($0.50). As a group, analysts anticipate that Contango Ore will post -2.98 earnings per share for the current year.

Insider Activity

In other Contango Ore news, Director Joseph S. Compofelice sold 7,460 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $21.14, for a total value of $157,704.40. Following the completion of the transaction, the director now directly owns 148,498 shares in the company, valued at approximately $3,139,247.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Joseph S. Compofelice sold 7,460 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $21.14, for a total value of $157,704.40. Following the completion of the sale, the director now owns 148,498 shares of the company’s stock, valued at approximately $3,139,247.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Michael Aaron Clark sold 1,375 shares of Contango Ore stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 26,092 shares in the company, valued at approximately $565,152.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 17.80% of the company’s stock.

Institutional Investors Weigh In On Contango Ore

Large investors have recently modified their holdings of the company. Mather Group LLC. bought a new stake in Contango Ore in the first quarter worth approximately $28,000. Wittenberg Investment Management Inc. lifted its position in shares of Contango Ore by 21.5% during the 1st quarter. Wittenberg Investment Management Inc. now owns 29,550 shares of the company’s stock valued at $587,000 after acquiring an additional 5,227 shares during the period. Vanguard Group Inc. grew its holdings in Contango Ore by 6.7% in the first quarter. Vanguard Group Inc. now owns 172,461 shares of the company’s stock worth $3,423,000 after purchasing an additional 10,848 shares during the period. Bank of New York Mellon Corp increased its stake in Contango Ore by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 22,652 shares of the company’s stock valued at $409,000 after purchasing an additional 966 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Contango Ore by 55.1% during the second quarter. Rhumbline Advisers now owns 9,565 shares of the company’s stock valued at $173,000 after purchasing an additional 3,397 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.