Traders bought shares of Contact Gold Corp (NYSE:C) on weakness during trading on Friday. $201.69 million flowed into the stock on the tick-up and $97.98 million flowed out of the stock on the tick-down, for a money net flow of $103.71 million into the stock. Of all stocks tracked, Contact Gold Corp had the 6th highest net in-flow for the day. Contact Gold Corp traded down ($0.18) for the day and closed at $72.25

A number of brokerages have commented on C. BMO Capital Markets restated a “hold” rating and set a $65.00 price objective on shares of Contact Gold Corp in a research report on Friday, October 6th. J P Morgan Chase & Co reiterated an “overweight” rating and set a $78.50 price target (up from $77.50) on shares of Contact Gold Corp in a report on Friday, October 6th. Stifel Nicolaus reiterated a “hold” rating on shares of Contact Gold Corp in a report on Monday, October 9th. Credit Suisse Group reiterated a “buy” rating and set a $83.00 price target (up from $73.00) on shares of Contact Gold Corp in a report on Monday, October 9th. They noted that the move was a valuation call. Finally, BidaskClub upgraded Contact Gold Corp from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 10th. One equities 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 assigned a strong buy rating to the stock. Contact Gold Corp currently has an average rating of “Buy” and an average target price of C$74.77.

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

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in C. BlackRock Inc. grew its position 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 period. Vanguard Group Inc. grew its position 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 period. FMR LLC grew its position in Contact Gold Corp by 3.8% in the second quarter. FMR LLC now owns 109,804,452 shares of the company’s stock valued at $7,343,721,000 after acquiring an additional 4,061,637 shares during the period. Bank of New York Mellon Corp grew its position in Contact Gold Corp by 6.8% in the second quarter. Bank of New York Mellon Corp now owns 46,110,561 shares of the company’s stock valued at $3,083,874,000 after acquiring an additional 2,943,282 shares during the period. Finally, Harris Associates L P grew its position in Contact Gold Corp by 0.5% in the second quarter. Harris Associates L P now owns 41,350,951 shares of the company’s stock valued at $2,765,551,000 after acquiring an additional 221,171 shares during the period.

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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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