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

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

Contango Ore Trading Up 3.7 %

NYSEAMERICAN CTGO opened at $19.66 on Friday. The firm has a market cap of $240.25 million, a price-to-earnings ratio of -2.32 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 for the quarter, missing analysts’ consensus estimates of ($1.40) by ($0.50). Equities analysts anticipate that Contango Ore will post -2.98 EPS for the current year.

Insider Activity

In other news, CFO Michael Aaron Clark sold 1,375 shares of the company’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 transaction, the chief financial officer now owns 26,092 shares of the company’s stock, valued at $565,152.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Joseph S. Compofelice sold 7,460 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $21.14, for a total value of $157,704.40. Following the sale, the director now owns 148,498 shares in the company, valued at approximately $3,139,247.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Aaron Clark sold 1,375 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $21.66, for a total value of $29,782.50. Following the completion of the sale, the chief financial officer now owns 26,092 shares in the company, valued at $565,152.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 17.80% of the company’s stock.

Institutional Investors Weigh In On Contango Ore

Institutional investors and hedge funds have recently modified their holdings of the company. Mather Group LLC. purchased a new stake in Contango Ore during the 1st quarter worth about $28,000. Rhumbline Advisers increased its holdings in Contango Ore by 55.1% during the 2nd quarter. Rhumbline Advisers now owns 9,565 shares of the company’s stock worth $173,000 after purchasing an additional 3,397 shares during the period. Marshall Wace LLP purchased a new stake in Contango Ore during the 2nd quarter worth about $185,000. Fore Capital LLC purchased a new stake in Contango Ore during the 2nd quarter worth about $201,000. Finally, Bank of New York Mellon Corp increased its holdings in Contango Ore by 4.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 22,652 shares of the company’s stock worth $409,000 after purchasing an additional 966 shares during the period. 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 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.