Contango Ore, Inc. (NYSEAMERICAN:CTGO) CEO Sells $21,000.00 in Stock

Contango Ore, Inc. (NYSEAMERICAN:CTGO) CEO Nieuwenhuyse Rick Van sold 1,000 shares of Contango Ore stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $21.00, for a total transaction of $21,000.00. Following the sale, the chief executive officer now owns 499,896 shares in the company, valued at approximately $10,497,816. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, March 18th, Nieuwenhuyse Rick Van sold 3,000 shares of Contango Ore stock. The shares were sold at an average price of $22.00, for a total transaction of $66,000.00.
• On Tuesday, January 9th, Nieuwenhuyse Rick Van sold 1,056 shares of Contango Ore stock. The stock was sold at an average price of $16.39, for a total transaction of $17,307.84.
• On Thursday, January 4th, Nieuwenhuyse Rick Van sold 612 shares of Contango Ore stock. The stock was sold at an average price of $15.90, for a total transaction of $9,730.80.
• On Tuesday, January 2nd, Nieuwenhuyse Rick Van sold 250 shares of Contango Ore stock. The stock was sold at an average price of $17.91, for a total transaction of $4,477.50.

Contango Ore Price Performance

Shares of NYSEAMERICAN CTGO traded down $0.23 during midday trading on Friday, reaching $20.32. 32,556 shares of the company traded hands, compared to its average volume of 22,550. Contango Ore, Inc. has a 52 week low of $14.03 and a 52 week high of $33.67. The company has a quick ratio of 4.02, a current ratio of 4.02 and a debt-to-equity ratio of 2.98. The stock has a market cap of $195.07 million, a P/E ratio of -3.40 and a beta of 0.54.

Institutional Investors Weigh In On Contango Ore

A number of hedge funds and other institutional investors have recently modified their holdings of CTGO. UBS Group AG raised its position in Contango Ore by 5,168.2% in the third quarter. UBS Group AG now owns 1,159 shares of the company’s stock worth $35,000 after acquiring an additional 1,137 shares in the last quarter. BlackRock Inc. acquired a new position in Contango Ore in the 3rd quarter worth approximately $647,000. Vanguard Group Inc. acquired a new position in Contango Ore in the 3rd quarter worth approximately $879,000. Sprott Inc. boosted its stake in Contango Ore by 38.0% in the 4th quarter. Sprott Inc. now owns 363,200 shares of the company’s stock worth $8,325,000 after purchasing an additional 100,000 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Contango Ore in the 2nd quarter worth approximately $269,000. 12.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Cormark assumed coverage on shares of Contango Ore in a report on Friday. They issued a “buy” rating and a $27.50 price objective for the company. Fundamental Research set a $23.22 price objective on shares of Contango Ore and gave the stock a “buy” rating in a report on Tuesday, February 13th.

About Contango Ore

Contango Ore, Inc, an exploration stage company, engages in the exploration of gold and associated minerals in the United States. It also explores for copper and silver deposits. The company, through its subsidiaries, leases approximately 675,000 acres from the Tetlin Tribal Council and holds approximately 13,000 State of Alaska mining claims for exploration and development; leases mineral rights approximately 8,600 acres of State of Alaska and patented mining claims for exploration from Alaska Hard Rock, Inc; and owns 100% interest in the mineral rights to approximately 154,000 acres of State of Alaska mining claims for exploration located north and northwest of the Manh Choh Project.