Fundamental Research Reiterates “$29.67” Price Target for Contango Ore (NYSEAMERICAN:CTGO)

Fundamental Research set a $29.67 target price on Contango Ore (NYSEAMERICAN:CTGO) in a research report released on Wednesday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Contango Ore Stock Performance

NYSEAMERICAN:CTGO opened at $9.77 on Wednesday. Contango Ore has a 52 week low of $9.65 and a 52 week high of $25.32. The stock has a market cap of $119.49 million, a P/E ratio of -1.25 and a beta of 0.55.

Insider Activity

In other Contango Ore news, Director John B. Juneau acquired 8,300 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average cost of $11.83 per share, for a total transaction of $98,189.00. Following the transaction, the director now directly owns 319,411 shares in the company, valued at $3,778,632.13. This represents a 2.67 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 17.80% of the company’s stock.

Institutional Trading of Contango Ore

A number of hedge funds have recently added to or reduced their stakes in CTGO. Geode Capital Management LLC boosted its stake in shares of Contango Ore by 58.7% during the third quarter. Geode Capital Management LLC now owns 219,696 shares of the company’s stock valued at $4,233,000 after purchasing an additional 81,227 shares in the last quarter. Franklin Resources Inc. raised its holdings in Contango Ore by 207.2% in the 3rd quarter. Franklin Resources Inc. now owns 224,709 shares of the company’s stock valued at $4,393,000 after buying an additional 151,559 shares during the last quarter. Barclays PLC boosted its position in Contango Ore by 372.7% during the 3rd quarter. Barclays PLC now owns 13,987 shares of the company’s stock worth $270,000 after buying an additional 11,028 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Contango Ore by 27.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 26,389 shares of the company’s stock worth $508,000 after acquiring an additional 5,630 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Contango Ore by 32.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,657 shares of the company’s stock worth $90,000 after acquiring an additional 1,129 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.