Dakota Gold (NYSE:DC) Trading Up 8.1% – Should You Buy?

Dakota Gold Corp. (NYSE:DC)’s share price shot up 8.1% on Tuesday . The company traded as high as $6.83 and last traded at $6.8550. Approximately 1,420,660 shares traded hands during mid-day trading, a decline of 9% from the average session volume of 1,569,340 shares. The stock had previously closed at $6.34.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating on shares of Dakota Gold in a research report on Friday, September 11th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.44.

Dakota Gold Price Performance

The firm’s 50-day moving average price is $5.65 and its 200-day moving average price is $5.38. The company has a market cap of $890.91 million, a price-to-earnings ratio of -16.20 and a beta of 1.23.

Institutional Trading of Dakota Gold

Large investors have recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. purchased a new stake in shares of Dakota Gold in the second quarter worth about $4,601,000. Royal Bank of Canada raised 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 buying an additional 502,754 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Dakota Gold by 142.1% during the 1st quarter. Renaissance Technologies LLC now owns 601,889 shares of the company’s stock valued at $3,040,000 after buying an additional 353,289 shares during the period. BlackRock Inc. acquired a new position in Dakota Gold during the 2nd quarter worth approximately $37,299,000. Finally, Euro Pacific Asset Management LLC lifted its position in Dakota Gold by 15.8% during the 1st quarter. Euro Pacific Asset Management LLC now owns 3,534,049 shares of the company’s stock worth $18,103,000 after acquiring an additional 482,565 shares in the last quarter. 37.41% of the stock is currently owned by institutional investors and hedge funds.

Dakota Gold Company Profile

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.