Fintel reports that on September 14, 2023, Maxim Group initiated coverage of Contango Ore (OTC:CTGO) with a Buy recommendation.
Analyst Price Forecast Suggests 94.29% Upside
As of August 31, 2023, the average one-year price target for Contango Ore is 34.68. The forecasts range from a low of 30.30 to a high of $39.90. The average price target represents an increase of 94.29% from its latest reported closing price of 17.85.
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The projected annual revenue for Contango Ore is 0MM. The projected annual non-GAAP EPS is -4.08.
What is the Fund Sentiment?
There are 84 funds or institutions reporting positions in Contango Ore. This is an increase of 54 owner(s) or 180.00% in the last quarter. Average portfolio weight of all funds dedicated to CTGO is 0.05%, a decrease of 61.02%. Total shares owned by institutions increased in the last three months by 82.34% to 1,740K shares.
What are Other Shareholders Doing?
Sprott holds 563K shares representing 6.00% ownership of the company. In it's prior filing, the firm reported owning 363K shares, representing an increase of 35.51%. The firm increased its portfolio allocation in CTGO by 26.42% over the last quarter.
SPROTT FUNDS TRUST - Sprott Gold Equity Fund Institutional Class holds 363K shares representing 3.87% ownership of the company. In it's prior filing, the firm reported owning 100K shares, representing an increase of 72.47%. The firm increased its portfolio allocation in CTGO by 263.20% over the last quarter.
GLDAX - GABELLI GOLD FUND INC holds 114K shares representing 1.22% ownership of the company. In it's prior filing, the firm reported owning 118K shares, representing a decrease of 2.99%. The firm decreased its portfolio allocation in CTGO by 8.80% over the last quarter.
Gabelli Funds holds 114K shares representing 1.22% ownership of the company. In it's prior filing, the firm reported owning 118K shares, representing a decrease of 2.99%. The firm decreased its portfolio allocation in CTGO by 13.20% over the last quarter.
Minerva Advisors holds 70K shares representing 0.75% ownership of the company. In it's prior filing, the firm reported owning 97K shares, representing a decrease of 38.75%. The firm decreased its portfolio allocation in CTGO by 38.16% over the last quarter.
Contango Ore Background Information
(This description is provided by the company.)
CORE is a company that engages in the exploration in Alaska for gold and associated minerals through a 30% interest in Peak Gold, LLC, which leases approximately 675,000 acres for exploration and development and through Contango Minerals Alaska, LLC, its wholly owned subsidiary which leases approximately 200,000 acres for exploration. The Company also owns Alaska Gold Torrent, LLC which holds the rights to the Lucky Shot Mine and approximately 9,000 acres of related mining claims located in Willow Mining District about 75 miles north of Anchorage, Alaska.
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