Contango Ore (NYSEAMERICAN:CTGO) Stock Passes Below 200-Day Moving Average – Here’s What Happened

Contango Ore, Inc. (NYSEAMERICAN:CTGO)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-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 trading hands.

Analyst Ratings Changes

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

Contango Ore Stock Down 0.3 %

The firm’s fifty day simple moving average is $10.82 and its 200-day simple moving average is $14.14. The company has a market cap of $173.30 million, a PE ratio of -1.81 and a beta of 0.55.

Insider Activity

In other Contango Ore news, CEO Nieuwenhuyse Rick Van bought 5,000 shares of Contango Ore stock in a transaction that occurred on Tuesday, April 1st. The shares were acquired at an average price of $10.22 per share, for a total transaction of $51,100.00. Following the acquisition, the chief executive officer now owns 550,869 shares of the company’s stock, valued at $5,629,881.18. The trade was a 0.92 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders purchased a total of 22,500 shares of company stock valued at $253,650 in the last 90 days. 17.80% of the stock is currently owned by insiders.

Institutional Trading of Contango Ore

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new position in shares of Contango Ore during the third quarter worth about $40,000. Wells Fargo & Company MN raised its stake in Contango Ore by 36.3% during the fourth quarter. Wells Fargo & Company MN now owns 5,715 shares of the company’s stock valued at $57,000 after buying an additional 1,522 shares in the last quarter. Quantbot Technologies LP lifted its holdings in Contango Ore by 173.3% during the 4th quarter. Quantbot Technologies LP now owns 8,022 shares of the company’s stock worth $80,000 after buying an additional 5,087 shares during the last quarter. Deutsche Bank AG grew its position in shares of Contango Ore by 93.6% in the 4th quarter. Deutsche Bank AG now owns 8,023 shares of the company’s stock worth $80,000 after acquiring an additional 3,879 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Contango Ore by 32.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,657 shares of the company’s stock valued at $90,000 after acquiring an additional 1,129 shares during the last quarter. 19.14% of the stock is owned by hedge funds and other institutional investors.

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.