Contango Ore (NYSEAMERICAN:CTGO) Shares Cross Below Two Hundred Day Moving Average – Here’s Why

Contango Ore, Inc. (NYSEAMERICAN:CTGO)’s stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $14.14 and traded as low as $13.95. Contango Ore shares last traded at $14.17, with a volume of 83,130 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Fundamental Research set a $29.67 target price on shares of Contango Ore and gave the company a “buy” rating in a research note on Wednesday, February 19th.

Contango Ore Stock Down 0.3 %

The firm has a market capitalization of $173.30 million, a PE ratio of -1.81 and a beta of 0.55. The business has a 50-day moving average price of $10.82 and a 200-day moving average price of $14.14.

Insider Buying and Selling at Contango Ore

In other Contango Ore news, CEO Nieuwenhuyse Rick Van acquired 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 22nd. The stock was purchased at an average cost of $13.70 per share, with a total value of $102,750.00. Following the transaction, the chief executive officer now owns 558,369 shares of the company’s stock, valued at $7,649,655.30. This trade represents a 1.36 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have bought 22,500 shares of company stock worth $253,650 in the last ninety days. 17.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in Contango Ore during the 3rd quarter worth approximately $40,000. Wells Fargo & Company MN raised its stake in shares of Contango Ore by 36.3% in the fourth quarter. Wells Fargo & Company MN now owns 5,715 shares of the company’s stock valued at $57,000 after acquiring an additional 1,522 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Contango Ore by 173.3% in the fourth quarter. Quantbot Technologies LP now owns 8,022 shares of the company’s stock valued at $80,000 after acquiring an additional 5,087 shares in the last quarter. Deutsche Bank AG boosted its holdings in Contango Ore by 93.6% in the fourth quarter. Deutsche Bank AG now owns 8,023 shares of the company’s stock valued at $80,000 after purchasing an additional 3,879 shares during the period. Finally, JPMorgan Chase & Co. grew its stake 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 purchasing an additional 1,129 shares in the last quarter. 19.14% of the stock is currently owned by institutional investors and hedge funds.

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.