Dakota Gold (NYSE:DC) Coverage Initiated at HC Wainwright

Equities researchers at HC Wainwright started coverage on shares of Dakota Gold (NYSE:DC) in a report issued on Monday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $9.75 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 75.04% from the stock’s current price.

Dakota Gold Stock Performance

Dakota Gold stock opened at $5.57 on Monday. Dakota Gold has a one year low of $2.21 and a one year high of $6.25. The stock has a fifty day moving average of $4.95 and a 200 day moving average of $4.51. The stock has a market cap of $630.87 million, a PE ratio of -13.59 and a beta of 1.08.

Insider Activity

In related news, Director Stephen T. O’rourke sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $4.66, for a total value of $233,000.00. Following the transaction, the director owned 918,199 shares of the company’s stock, valued at approximately $4,278,807.34. This trade represents a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 17.40% of the company’s stock.

Institutional Trading of Dakota Gold

Several institutional investors and hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its stake in shares of Dakota Gold by 109.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,070 shares of the company’s stock valued at $26,000 after buying an additional 3,700 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Dakota Gold by 120.5% during the second quarter. BNP Paribas Financial Markets now owns 8,309 shares of the company’s stock valued at $31,000 after acquiring an additional 4,541 shares during the period. Ameritas Investment Partners Inc. lifted its position in shares of Dakota Gold by 130.7% in the second quarter. Ameritas Investment Partners Inc. now owns 8,788 shares of the company’s stock valued at $32,000 after acquiring an additional 4,978 shares in the last quarter. Financial Engines Advisors L.L.C. bought a new position in shares of Dakota Gold in the third quarter worth about $46,000. Finally, Sherbrooke Park Advisers LLC bought a new position in shares of Dakota Gold in the third quarter worth about $46,000. 37.41% of the stock is currently owned by institutional investors.

About Dakota Gold

Dakota Gold Corp (NYSE:DC) is a mineral exploration and development company focused on advancing gold projects within the United States. The company’s primary asset is the historic Homestake District in South Dakota’s Black Hills, where it seeks to redevelop gold-bearing tailings and low‐grade ore volumes for open‐pit heap leach processing. Dakota Gold pursues a staged approach, combining exploration, resource delineation and economic studies to unlock value from legacy mine materials.

The firm’s flagship property comprises sealed tailings impoundments and adjacent low‐grade stockpiles left over from the Homestake Gold Mine, which operated from 1876 until 2002.