Insider Buying: Contango Ore, Inc. (NYSEAMERICAN:CTGO) CEO Acquires 5,000 Shares of Stock

Contango Ore, Inc. (NYSEAMERICAN:CTGO) CEO Nieuwenhuyse Rick Van acquired 5,000 shares of the stock in a transaction on Tuesday, April 1st. The shares were acquired at an average price of $10.22 per share, with a total value of $51,100.00. Following the transaction, the chief executive officer now directly owns 550,869 shares of the company’s stock, valued at $5,629,881.18. The trade was a 0.92 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Nieuwenhuyse Rick Van also recently made the following trade(s):

• On Tuesday, March 25th, Nieuwenhuyse Rick Van purchased 10,000 shares of Contango Ore stock. The stock was acquired at an average cost of $9.98 per share, with a total value of $99,800.00.

Contango Ore Price Performance

NYSEAMERICAN CTGO opened at $9.76 on Friday. Contango Ore, Inc. has a 52 week low of $8.85 and a 52 week high of $25.32. The stock has a market capitalization of $119.36 million, a price-to-earnings ratio of -1.25 and a beta of 0.55. The stock’s fifty day moving average price is $10.17.

Hedge Funds Weigh In On Contango Ore

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake 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 worth $90,000 after acquiring an additional 1,129 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Contango Ore by 36.3% during the fourth quarter. Wells Fargo & Company MN now owns 5,715 shares of the company’s stock worth $57,000 after purchasing an additional 1,522 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Contango Ore by 8.4% during the fourth quarter. Bank of New York Mellon Corp now owns 22,384 shares of the company’s stock valued at $224,000 after purchasing an additional 1,737 shares during the period. Barclays PLC grew its holdings in shares of Contango Ore by 14.7% in the fourth quarter. Barclays PLC now owns 16,037 shares of the company’s stock worth $161,000 after purchasing an additional 2,050 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Contango Ore in the 3rd quarter worth about $40,000. 19.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.