Dakota Gold (NYSE:DC) Stock Price Up 6.2% – Here’s What Happened

Dakota Gold Corp. (NYSE:DC) shares shot up 6.2% on Wednesday . The company traded as high as $4.79 and last traded at $4.7460. Approximately 207,156 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 1,623,111 shares. The stock had previously closed at $4.47.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on DC shares. HC Wainwright lifted their target price on Dakota Gold from $10.50 to $10.75 and gave the company a “buy” rating in a research report on Thursday, July 16th. Canaccord Genuity Group lifted their price objective on shares of Dakota Gold from $16.00 to $18.00 and gave the stock a “speculative buy” rating in a research note on Tuesday, May 26th. Finally, Canadian Imperial Bank of Commerce initiated coverage on shares of Dakota Gold in a research report on Tuesday, May 5th. They set an “outperform” rating and a $11.00 price objective for the company. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Dakota Gold has an average rating of “Moderate Buy” and an average price target of $12.44.

Dakota Gold Stock Performance

The company has a market capitalization of $642.18 million, a P/E ratio of -11.79 and a beta of 1.20. The business has a fifty day moving average of $4.91 and a 200-day moving average of $5.51.

Insider Buying and Selling

In other Dakota Gold news, Director Todd J. Kenner bought 17,921 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were purchased at an average price of $5.60 per share, for a total transaction of $100,357.60. Following the purchase, the director directly owned 17,921 shares of the company’s stock, valued at approximately $100,357.60. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jennifer S. Grafton sold 15,511 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director directly owned 144,560 shares of the company’s stock, valued at approximately $803,753.60. This 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 insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DC. Groupe la Francaise increased its position 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. Amundi boosted its holdings in shares of Dakota Gold by 43.3% in the 1st quarter. Amundi now owns 2,150,000 shares of the company’s stock worth $10,858,000 after buying an additional 650,000 shares during the last quarter. Global Strategic Management Inc. bought a new position in Dakota Gold during the fourth quarter valued at about $3,094,000. Royal Bank of Canada grew its position in Dakota Gold by 704.6% during the first quarter. Royal Bank of Canada now owns 574,105 shares of the company’s stock valued at $2,899,000 after buying an additional 502,754 shares during the period. Finally, Tudor Investment Corp ET AL purchased a new stake in Dakota Gold during the third quarter worth about $2,224,000. Institutional investors 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.