Connor Clark & Lunn Investment Management Ltd. Takes $2.82 Million Position in Dakota Gold Corp. $DC

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Dakota Gold Corp. (NYSE:DC) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 662,173 shares of the company’s stock, valued at approximately $2,821,000.

A number of other large investors have also added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings in shares of Dakota Gold by 704.6% during the first quarter. Royal Bank of Canada now owns 574,105 shares of the company’s stock worth $2,899,000 after purchasing an additional 502,754 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Dakota Gold by 142.1% in the first 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 last quarter. Donald Smith & CO. Inc. bought a new position in shares of Dakota Gold in the second quarter valued at about $4,601,000. 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 buying an additional 482,565 shares in the last quarter. Finally, Amundi lifted its position in Dakota Gold by 43.3% during 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 in the last quarter. Institutional investors and hedge funds own 37.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Canadian Imperial Bank of Commerce started coverage on shares of Dakota Gold in a report on Tuesday, May 5th. They set an “outperform” rating and a $11.00 price objective on the stock. Canaccord Genuity Group boosted their target price 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, HC Wainwright upped their target price on shares of Dakota Gold from $10.50 to $10.75 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Dakota Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.44.

Dakota Gold Stock Performance

NYSE DC opened at $6.04 on Friday. The stock has a market capitalization of $810.40 million, a P/E ratio of -14.73 and a beta of 1.19. Dakota Gold Corp. has a 52 week low of $3.79 and a 52 week high of $7.25. The stock has a fifty day moving average of $5.04 and a 200-day moving average of $5.41.

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.