Rafferty Asset Management LLC cut its holdings in Contact Gold Corp (NYSE:C) by 20.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 409,410 shares of the company’s stock after selling 102,536 shares during the quarter. Contact Gold Corp comprises approximately 0.8% of Rafferty Asset Management LLC’s holdings, making the stock its 22nd largest position. Rafferty Asset Management LLC’s holdings in Contact Gold Corp were worth $27,381,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of C. BlackRock Inc. lifted its stake in Contact Gold Corp by 2,718.7% in the first quarter. BlackRock Inc. now owns 196,415,461 shares of the company’s stock valued at $11,749,573,000 after acquiring an additional 189,447,104 shares during the last quarter. FMR LLC lifted its stake in Contact Gold Corp by 18.2% in the first quarter. FMR LLC now owns 105,742,815 shares of the company’s stock valued at $6,325,535,000 after acquiring an additional 16,257,931 shares during the last quarter. Pioneer Investment Management Inc. lifted its stake in Contact Gold Corp by 2,317.8% in the second quarter. Pioneer Investment Management Inc. now owns 5,002,029 shares of the company’s stock valued at $334,536,000 after acquiring an additional 4,795,145 shares during the last quarter. Vanguard Group Inc. lifted its stake in Contact Gold Corp by 2.5% in the first quarter. Vanguard Group Inc. now owns 183,198,941 shares of the company’s stock valued at $10,958,960,000 after acquiring an additional 4,391,347 shares during the last quarter. Finally, Primecap Management Co. CA acquired a new stake in Contact Gold Corp in the first quarter valued at approximately $203,370,000.
A number of research firms have recently commented on C. Atlantic Securities reissued an “overweight” rating and issued a $85.00 price target (up previously from $75.00) on shares of Contact Gold Corp in a research report on Tuesday, September 26th. Bank of America Corporation reissued a “neutral” rating on shares of Contact Gold Corp in a research report on Wednesday, October 11th. Vetr raised shares of Contact Gold Corp from a “buy” rating to a “strong-buy” rating and set a $76.34 price target on the stock in a research report on Thursday, August 3rd. BMO Capital Markets reissued a “hold” rating and issued a $65.00 price target on shares of Contact Gold Corp in a research report on Friday, October 6th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $83.00 price target (up previously from $73.00) on shares of Contact Gold Corp in a research report on Monday, October 9th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. Contact Gold Corp presently has a consensus rating of “Buy” and a consensus target price of C$74.77.
Shares of Contact Gold Corp (NYSE:C) opened at C$72.25 on Friday. Contact Gold Corp has a 52 week low of C$51.60 and a 52 week high of C$76.14.
Contact Gold Corp (NYSE:C) last issued its earnings results on Thursday, October 12th. The company reported C$1.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$1.32 by C$0.10. Contact Gold Corp had a net margin of 22.76% and a return on equity of 7.30%. The company had revenue of C$18.17 billion for the quarter, compared to the consensus estimate of C$17.87 billion. During the same quarter in the previous year, the company earned $1.24 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Monday, November 6th will be paid a $0.32 dividend. The ex-dividend date is Friday, November 3rd. This represents a $1.28 annualized dividend and a dividend yield of 1.77%.
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About Contact Gold Corp
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.
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