Contango Ore (NYSEAMERICAN:CTGO) Given a $29.67 Price Target by Fundamental Research Analysts

Contango Ore (NYSEAMERICAN:CTGO) received a $29.67 price objective from equities research analysts at Fundamental Research in a research note issued on Wednesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Fundamental Research’s target price would suggest a potential upside of 187.14% from the company’s current price.

Contango Ore Price Performance

Shares of NYSEAMERICAN CTGO traded down $0.72 during mid-day trading on Wednesday, reaching $10.33. 48,007 shares of the company’s stock traded hands, compared to its average volume of 85,217. The stock has a market capitalization of $126.37 million, a P/E ratio of -1.32 and a beta of 0.55. Contango Ore has a 1-year low of $9.65 and a 1-year high of $25.32.

Insider Buying and Selling

In other Contango Ore news, Director John B. Juneau acquired 8,300 shares of the business’s stock in a transaction on Friday, December 13th. The shares were acquired at an average price of $11.83 per share, with a total value of $98,189.00. Following the completion of the transaction, the director now owns 319,411 shares in the company, valued at approximately $3,778,632.13. This trade represents a 2.67 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 17.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Contango Ore

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