Investors Buy Large Volume of Dakota Gold Call Options (NYSE:DC)

Dakota Gold Corp. (NYSE:DC) was the recipient of unusually large options trading on Monday. Stock traders acquired 2,443 call options on the company. This is an increase of approximately 281% compared to the typical volume of 641 call options.

Dakota Gold Stock Performance

NYSE DC traded down $0.08 during trading hours on Monday, hitting $5.73. 685,837 shares of the company traded hands, compared to its average volume of 1,552,376. The business’s 50-day moving average is $5.36 and its 200-day moving average is $5.40. The stock has a market capitalization of $768.54 million, a price-to-earnings ratio of -13.96 and a beta of 1.23. Dakota Gold has a twelve month low of $3.79 and a twelve month high of $7.25.

Institutional Investors Weigh In On Dakota Gold

Large investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted its stake in Dakota Gold by 704.6% in the first quarter. Royal Bank of Canada now owns 574,105 shares of the company’s stock valued at $2,899,000 after acquiring an additional 502,754 shares during the last quarter. Donald Smith & CO. Inc. acquired a new position in shares of Dakota Gold during the 2nd quarter worth about $4,601,000. Renaissance Technologies LLC raised its holdings in shares of Dakota Gold by 142.1% in the 1st quarter. Renaissance Technologies LLC now owns 601,889 shares of the company’s stock valued at $3,040,000 after purchasing an additional 353,289 shares during the period. BlackRock Inc. bought a new stake in shares of Dakota Gold in the 2nd quarter valued at about $37,299,000. Finally, Euro Pacific Asset Management LLC lifted its stake in Dakota Gold by 15.8% in the 1st 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 during the last quarter. Institutional investors and hedge funds own 37.41% of the company’s stock.

Analyst Upgrades and Downgrades

DC has been the topic of a number of recent research reports. Canaccord Genuity Group lifted their price objective 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. HC Wainwright reaffirmed a “buy” rating on shares of Dakota Gold in a research report on Friday. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Dakota Gold has an average rating of “Moderate Buy” and a consensus target price of $12.44.

About Dakota Gold

Dakota Gold Corp. (NYSE:DC) is a mineral exploration and development company focused on discovering and advancing gold deposits in the historic Homestake District of South Dakota. The company’s activities include geological mapping, drilling, sampling, resource evaluation and other exploration work rather than commercial gold production.

Dakota Gold controls a substantial land position in the Homestake District, an area with a long history of gold mining near Lead, South Dakota. Its exploration portfolio includes projects such as Richmond Hill and Maitland, where the company is evaluating the potential for large-scale gold mineralization and developing targets for further drilling.

The Homestake District was historically one of the most important gold-producing regions in the United States.