Dakota Gold (NYSE:DC) Shares Gap Up – What’s Next?

Dakota Gold Corp. (NYSE:DC)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $6.24, but opened at $6.47. Dakota Gold shares last traded at $6.1570, with a volume of 265,411 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. HC Wainwright assumed coverage on Dakota Gold in a research note on Monday, January 5th. They issued a “buy” rating and a $9.75 price objective on the stock. Zacks Research upgraded Dakota Gold to a “hold” rating in a report on Tuesday, January 6th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.25.

Dakota Gold Price Performance

The business’s 50 day moving average is $5.23 and its 200 day moving average is $4.60. The company has a market cap of $707.89 million, a P/E ratio of -15.24 and a beta of 1.08.

Insider Activity at Dakota Gold

In other news, Director Stephen T. O’rourke sold 50,000 shares of the firm’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $4.66, for a total value of $233,000.00. Following the sale, the director directly owned 918,199 shares in the company, valued at approximately $4,278,807.34. This trade represents a 5.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On Dakota Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of DC. Rhumbline Advisers grew its holdings in Dakota Gold by 3.1% in the first quarter. Rhumbline Advisers now owns 117,416 shares of the company’s stock worth $311,000 after purchasing an additional 3,543 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Dakota Gold by 109.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,070 shares of the company’s stock worth $26,000 after purchasing an additional 3,700 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Dakota Gold by 15.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,058 shares of the company’s stock worth $118,000 after buying an additional 4,377 shares during the last quarter. BNP Paribas Financial Markets increased its position in Dakota Gold by 120.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 8,309 shares of the company’s stock valued at $31,000 after buying an additional 4,541 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its stake in Dakota Gold by 130.7% in the second quarter. Ameritas Investment Partners Inc. now owns 8,788 shares of the company’s stock valued at $32,000 after buying an additional 4,978 shares during the last quarter. Hedge funds and other 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.