Contango Ore, Inc. (NYSEAMERICAN:CTGO) Short Interest Up 374.3% in May

Contango Ore, Inc. (NYSEAMERICAN:CTGO – Get Rating) saw a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 16,600 shares, a growth of 374.3% from the April 30th total of 3,500 shares. Currently, 0.5% of the shares of the stock are short sold. Based on an average daily volume of 5,700 shares, the short-interest ratio is currently 2.9 days.

Contango Ore Stock Performance

Contango Ore stock traded down $0.11 during midday trading on Friday, reaching $25.31. The company’s stock had a trading volume of 3,400 shares, compared to its average volume of 4,891. Contango Ore has a 52 week low of $21.00 and a 52 week high of $32.94. The company has a current ratio of 7.09, a quick ratio of 7.09 and a debt-to-equity ratio of 2.72.

Hedge Funds Weigh In On Contango Ore

A number of hedge funds and other institutional investors have recently made changes to their positions in CTGO. Sprott Inc. lifted its stake in Contango Ore by 38.0% in the fourth quarter. Sprott Inc. now owns 363,200 shares of the company’s stock valued at $8,325,000 after buying an additional 100,000 shares during the period. Vanguard Group Inc. acquired a new position in shares of Contango Ore during the third quarter worth approximately $879,000. BlackRock Inc. acquired a new position in shares of Contango Ore during the third quarter worth approximately $647,000. Gabelli Funds LLC raised its position in shares of Contango Ore by 12.5% during the fourth quarter. Gabelli Funds LLC now owns 121,152 shares of the company’s stock worth $2,777,000 after purchasing an additional 13,452 shares during the period. Finally, Wittenberg Investment Management Inc. raised its position in shares of Contango Ore by 8.4% during the first quarter. Wittenberg Investment Management Inc. now owns 20,723 shares of the company’s stock worth $591,000 after purchasing an additional 1,602 shares during the period. 8.68% of the stock is owned by institutional investors and hedge funds.

Contango Ore Company Profile

(Get Rating)

Contango ORE, Inc engages in the exploration of gold, associated minerals, and rare earth elements. It includes geological surveying, geochemical sampling, geophysical surveying, geochemical evaluation for rare earth elements, and electromagnetic exploration in order to determine the existence and location of rare earth elements.