Dakota Gold (NYSE:DC) Stock Price Down 3.6% – Should You Sell?

Dakota Gold Corp. (NYSE:DC)’s share price dropped 3.6% on Monday . The stock traded as low as $4.26 and last traded at $4.34. 928,796 shares were traded during trading, a decline of 44% from the average session volume of 1,654,613 shares. The stock had previously closed at $4.50.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Canaccord Genuity Group upped their target price on shares of Dakota Gold from $16.00 to $18.00 and gave the stock a “speculative buy” rating in a research report on Tuesday, May 26th. Canadian Imperial Bank of Commerce assumed coverage on Dakota Gold in a research note on Tuesday, May 5th. They issued an “outperform” rating and a $11.00 target price for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $10.50 price target on shares of Dakota Gold in a research report on Wednesday, April 22nd. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $12.38.

Dakota Gold Trading Down 3.6%

The firm has a fifty day moving average of $5.11 and a two-hundred day moving average of $5.58. The company has a market capitalization of $581.25 million, a PE ratio of -10.59 and a beta of 1.20.

Insider Buying and Selling at Dakota Gold

In other Dakota Gold news, Director Jennifer S. Grafton sold 15,511 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.56, for a total value of $86,241.16. Following the sale, the director owned 144,560 shares of the company’s stock, valued at $803,753.60. This trade represents a 9.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Todd J. Kenner acquired 17,921 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was purchased at an average price of $5.60 per share, for a total transaction of $100,357.60. Following the transaction, the director directly owned 17,921 shares of the company’s stock, valued at approximately $100,357.60. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Dakota Gold

Hedge funds and other institutional investors have recently made changes to their positions in the business. 55 North Private Wealth LLC raised its holdings in shares of Dakota Gold by 27.6% during the second quarter. 55 North Private Wealth LLC now owns 17,638 shares of the company’s stock valued at $75,000 after acquiring an additional 3,812 shares in the last quarter. Groupe la Francaise boosted its holdings in Dakota Gold by 154.5% in the first quarter. Groupe la Francaise now owns 1,400,000 shares of the company’s stock valued at $7,041,000 after acquiring an additional 850,000 shares in the last quarter. Bank of America Corp DE boosted its holdings in Dakota Gold by 28.2% in the first quarter. Bank of America Corp DE now owns 80,973 shares of the company’s stock valued at $409,000 after acquiring an additional 17,799 shares in the last quarter. Amundi increased its position in 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 period. Finally, Royal Bank of Canada increased its position in 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 period. Institutional investors 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.