Dakota Gold (NYSE:DC) Raised to “Strong-Buy” at Scotiabank

Dakota Gold (NYSE:DC) was upgraded by investment analysts at Scotiabank to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

DC has been the topic of several other research reports. Zacks Research upgraded shares of Dakota Gold to a “hold” rating in a research report on Tuesday, January 6th. HC Wainwright assumed coverage on shares of Dakota Gold in a research note on Monday, January 5th. They set a “buy” rating and a $9.75 target price on the stock. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $10.19.

Dakota Gold Price Performance

Shares of NYSE DC opened at $6.55 on Monday. The stock has a market capitalization of $760.84 million, a price-to-earnings ratio of -15.98 and a beta of 1.08. The firm’s 50 day simple moving average is $6.08 and its 200-day simple moving average is $5.06. Dakota Gold has a 12 month low of $2.40 and a 12 month high of $7.25.

Insider Buying and Selling at Dakota Gold

In related news, CEO Robert Quartermain sold 250,000 shares of the company’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $6.88, for a total transaction of $1,720,000.00. Following the completion of the transaction, the chief executive officer owned 7,493,244 shares in the company, valued at $51,553,518.72. This represents a 3.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Shawn Campbell sold 55,000 shares of the firm’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $6.30, for a total transaction of $346,500.00. Following the completion of the transaction, the chief financial officer directly owned 179,491 shares in the company, valued at $1,130,793.30. This represents a 23.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 26.02% of the company’s stock.

Hedge Funds Weigh In On Dakota Gold

A number of hedge funds have recently made changes to their positions in the company. Fiscal Wisdom Wealth Management LLC acquired a new stake in shares of Dakota Gold in the third quarter worth approximately $3,659,000. Global Strategic Management Inc. purchased a new position in Dakota Gold in the 4th quarter valued at $3,094,000. Tudor Investment Corp ET AL acquired a new stake in Dakota Gold during the 3rd quarter worth $2,224,000. Invesco Ltd. boosted its stake in Dakota Gold by 890.0% during the 4th quarter. Invesco Ltd. now owns 542,712 shares of the company’s stock worth $3,083,000 after purchasing an additional 487,891 shares during the last quarter. Finally, Amundi lifted its stake in shares of Dakota Gold by 46.3% in the third quarter. Amundi now owns 1,500,000 shares of the company’s stock worth $6,900,000 after buying an additional 475,000 shares in the last quarter. Institutional investors and hedge funds own 37.41% of the company’s stock.

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.