Contango Ore’s (CTGO) Buy Rating Reaffirmed at Roth Mkm

Roth Mkm reissued their buy rating on shares of Contango Ore (NYSEAMERICAN:CTGO) in a report published on Monday morning, Benzinga reports. Roth Mkm currently has a $38.00 target price on the stock.

Several other analysts have also recently weighed in on CTGO. Fundamental Research set a $23.22 price objective on shares of Contango Ore and gave the company a buy rating in a research report on Tuesday, February 13th. Cormark started coverage on shares of Contango Ore in a research report on Friday, March 22nd. They set a buy rating and a $27.50 price objective on the stock.

Contango Ore Price Performance

Shares of NYSEAMERICAN:CTGO opened at $19.81 on Monday. The company has a quick ratio of 4.02, a current ratio of 4.02 and a debt-to-equity ratio of 2.98. Contango Ore has a one year low of $14.03 and a one year high of $33.67. The firm has a market capitalization of $190.18 million, a price-to-earnings ratio of -3.28 and a beta of 0.54.

Insider Activity

In related news, Director Joseph S. Compofelice sold 5,826 shares of Contango Ore stock in a transaction on Monday, March 18th. The shares were sold at an average price of $22.00, for a total value of $128,172.00. Following the transaction, the director now owns 163,878 shares in the company, valued at approximately $3,605,316. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Nieuwenhuyse Rick Van sold 3,000 shares of Contango Ore stock in a transaction on Monday, March 18th. The shares were sold at an average price of $22.00, for a total value of $66,000.00. Following the transaction, the chief executive officer now owns 500,896 shares in the company, valued at approximately $11,019,712. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joseph S. Compofelice sold 5,826 shares of Contango Ore stock in a transaction on Monday, March 18th. The stock was sold at an average price of $22.00, for a total transaction of $128,172.00. Following the completion of the transaction, the director now owns 163,878 shares in the company, valued at approximately $3,605,316. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,451 shares of company stock worth $323,004. 17.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Contango Ore

A number of hedge funds have recently modified their holdings of the company. Sprott Inc. increased 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. Vanguard Group Inc. increased its position in shares of Contango Ore by 633.2% in the third quarter. Vanguard Group Inc. now owns 358,613 shares of the company’s stock valued at $6,505,000 after acquiring an additional 309,705 shares during the period. BlackRock Inc. boosted its stake in shares of Contango Ore by 701.6% during the 2nd quarter. BlackRock Inc. now owns 173,404 shares of the company’s stock valued at $4,418,000 after purchasing an additional 151,772 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Contango Ore by 92.8% during the 4th quarter. Northern Trust Corp now owns 65,609 shares of the company’s stock valued at $1,188,000 after purchasing an additional 31,576 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Contango Ore by 227.7% during the 2nd quarter. Geode Capital Management LLC now owns 61,538 shares of the company’s stock valued at $1,568,000 after purchasing an additional 42,762 shares in the last quarter. Hedge funds and other institutional investors own 19.14% of the company’s stock.

About Contango Ore

Contango Ore, Inc, an exploration stage company, engages in the exploration of gold and associated minerals in the United States. It also explores for copper and silver deposits. The company, through its subsidiaries, leases approximately 675,000 acres from the Tetlin Tribal Council and holds approximately 13,000 State of Alaska mining claims for exploration and development; leases mineral rights approximately 8,600 acres of State of Alaska and patented mining claims for exploration from Alaska Hard Rock, Inc; and owns 100% interest in the mineral rights to approximately 154,000 acres of State of Alaska mining claims for exploration located north and northwest of the Manh Choh Project.