Dakota Gold Corp. (NYSE:DC) Given Average Rating of “Moderate Buy” by Analysts

Dakota Gold Corp. (NYSE:DC) has received a consensus rating of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $11.70.

DC has been the topic of several recent analyst reports. Canaccord Genuity Group raised their target price on shares of Dakota Gold from $16.00 to $18.00 and gave the company a “speculative buy” rating in a report on Tuesday, May 26th. Canadian Imperial Bank of Commerce initiated coverage on shares of Dakota Gold in a report on Tuesday, May 5th. They issued an “outperform” rating and a $11.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $10.50 target price on shares of Dakota Gold in a report on Wednesday, April 22nd. Finally, Scotiabank initiated coverage on shares of Dakota Gold in a report on Monday, February 23rd. They issued a “sector outperform” rating and a $10.00 target price on the stock.

Dakota Gold Stock Up 2.5%

Shares of Dakota Gold stock opened at $5.76 on Tuesday. Dakota Gold has a twelve month low of $3.04 and a twelve month high of $7.25. The company has a 50-day simple moving average of $5.47 and a two-hundred day simple moving average of $5.62. The stock has a market capitalization of $771.43 million, a price-to-earnings ratio of -14.05 and a beta of 1.14.

Insider Activity

In related news, Director Todd J. Kenner purchased 17,921 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were bought at an average cost of $5.60 per share, with a total value of $100,357.60. Following the acquisition, the director owned 17,921 shares of the company’s stock, valued at $100,357.60. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jennifer S. Grafton sold 15,511 shares of Dakota Gold stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.56, for a total transaction of $86,241.16. Following the sale, the director directly owned 144,560 shares in the company, valued at $803,753.60. This trade represents a 9.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Dakota Gold

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Groupe la Francaise grew its holdings in shares of Dakota Gold by 154.5% during the 1st quarter. Groupe la Francaise now owns 1,400,000 shares of the company’s stock valued at $7,041,000 after purchasing an additional 850,000 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Dakota Gold by 28.2% during the 1st quarter. Bank of America Corp DE now owns 80,973 shares of the company’s stock valued at $409,000 after purchasing an additional 17,799 shares during the last quarter. Amundi grew its holdings in shares of Dakota Gold by 43.3% during the 1st quarter. Amundi now owns 2,150,000 shares of the company’s stock valued at $10,858,000 after purchasing an additional 650,000 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Dakota Gold by 704.6% during the 1st quarter. Royal Bank of Canada now owns 574,105 shares of the company’s stock valued at $2,899,000 after purchasing an additional 502,754 shares during the last quarter. Finally, Quantinno Capital Management LP grew its holdings in shares of Dakota Gold by 469.9% during the 1st quarter. Quantinno Capital Management LP now owns 107,318 shares of the company’s stock valued at $542,000 after purchasing an additional 88,488 shares during the last quarter. 37.41% of the stock is owned by institutional investors.

Dakota Gold Company Profile

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.