CI Investments Inc. Lowers Stake in Contact Gold Corp (NYSE:C)

CI Investments Inc. lessened its stake in shares of Contact Gold Corp (NYSE:C) by 11.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,255,148 shares of the company’s stock after selling 1,051,791 shares during the quarter. Contact Gold Corp comprises 6.0% of CI Investments Inc.’s portfolio, making the stock its largest holding. CI Investments Inc. owned approximately 0.30% of Contact Gold Corp worth $552,104,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of C. Catamount Wealth Management bought a new stake in Contact Gold Corp in the 2nd quarter worth approximately $100,000. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its position in Contact Gold Corp by 206.0% in the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,530 shares of the company’s stock valued at $102,000 after purchasing an additional 1,030 shares during the last quarter. Patten Group Inc. lifted its position in Contact Gold Corp by 6.6% in the first quarter. Patten Group Inc. now owns 1,765 shares of the company’s stock valued at $105,000 after purchasing an additional 110 shares during the last quarter. Dubuque Bank & Trust Co. lifted its position in Contact Gold Corp by 60.8% in the second quarter. Dubuque Bank & Trust Co. now owns 1,584 shares of the company’s stock valued at $106,000 after purchasing an additional 599 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. bought a new position in shares of Contact Gold Corp during the second quarter valued at approximately $123,000.

Contact Gold Corp (NYSE C) traded down C$0.18 during trading hours on Friday, reaching C$72.25. The company’s stock had a trading volume of 12,850,000 shares, compared to its average volume of 15,750,000. Contact Gold Corp has a one year low of C$51.60 and a one year high of C$76.14.

Contact Gold Corp (NYSE:C) last announced its quarterly earnings data on Thursday, October 12th. The company reported C$1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.32 by C$0.10. Contact Gold Corp had a return on equity of 7.30% and a net margin of 22.76%. The business had revenue of C$18.17 billion for the quarter, compared to analysts’ expectations of C$17.87 billion. During the same period last year, the firm earned $1.24 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, November 6th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Friday, November 3rd.

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C has been the topic of several recent research reports. J P Morgan Chase & Co set a $73.50 price target on Contact Gold Corp and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Vetr cut Contact Gold Corp from a “strong-buy” rating to a “buy” rating and set a $76.22 target price on the stock. in a research note on Monday, July 31st. Keefe, Bruyette & Woods set a $75.00 price target on Contact Gold Corp and gave the company a “buy” rating in a report on Sunday, August 13th. Nomura increased their target price on Contact Gold Corp from $74.00 to $78.00 and gave the company a “buy” rating in a report on Monday, July 17th. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $73.00 price objective on shares of Contact Gold Corp in a research note on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of C$74.77.

Contact Gold Corp Profile

Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.

Institutional Ownership by Quarter for Contact Gold Corp (NYSE:C)

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