Dakota Gold (NYSE:DC) Stock Price Down 8.7% – Should You Sell?

Dakota Gold Corp. (NYSE:DC)’s share price dropped 8.7% on Friday . The company traded as low as $5.67 and last traded at $5.7050. Approximately 311,969 shares were traded during trading, a decline of 81% from the average daily volume of 1,632,839 shares. The stock had previously closed at $6.25.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Scotiabank started coverage on shares of Dakota Gold in a research note on Monday, February 23rd. They issued a “sector outperform” rating and a $10.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $10.50 target price on shares of Dakota Gold in a research note on Wednesday, April 22nd. Finally, Canadian Imperial Bank of Commerce initiated coverage on Dakota Gold in a report on Tuesday, May 5th. They issued an “outperform” rating and a $11.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.50.

Dakota Gold Stock Down 8.8%

The stock has a market cap of $761.05 million, a price-to-earnings ratio of -13.90 and a beta of 1.14. The company has a 50 day simple moving average of $5.53 and a 200 day simple moving average of $5.52.

Insider Buying and Selling

In related news, CFO Shawn Campbell sold 21,207 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $7.02, for a total transaction of $148,873.14. Following the completion of the transaction, the chief financial officer directly owned 231,526 shares in the company, valued at $1,625,312.52. This represents a 8.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James Mccoy Berry sold 12,388 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $7.02, for a total transaction of $86,963.76. Following the completion of the transaction, the vice president directly owned 371,748 shares of the company’s stock, valued at approximately $2,609,670.96. The trade was a 3.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 8.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Dakota Gold

Hedge funds have recently modified their holdings of the company. Fiscal Wisdom Wealth Management LLC bought a new stake in Dakota Gold during the 3rd quarter worth $3,659,000. Global Strategic Management Inc. bought a new position in Dakota Gold in the fourth quarter valued at about $3,094,000. Tudor Investment Corp ET AL bought a new position in Dakota Gold in the third quarter valued at about $2,224,000. Invesco Ltd. boosted its stake in shares of Dakota Gold by 890.0% during the fourth quarter. Invesco Ltd. now owns 542,712 shares of the company’s stock valued at $3,083,000 after purchasing an additional 487,891 shares in the last quarter. Finally, Euro Pacific Asset Management LLC boosted its stake in shares of Dakota Gold by 15.8% during the first quarter. Euro Pacific Asset Management LLC now owns 3,534,049 shares of the company’s stock valued at $18,103,000 after purchasing an additional 482,565 shares in the last quarter. Institutional investors and hedge funds own 37.41% of the company’s stock.

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.