Dakota Gold (NYSE:DC) Stock Jumps 5.1% – Still a Buy?

Shares of Dakota Gold Corp. (NYSE:DC) shot up 5.1% during trading on Thursday. The company traded as high as $5.85 and last traded at $5.8950. Approximately 692,823 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 1,557,851 shares. The stock had previously closed at $5.61.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and issued a $10.75 price objective on shares of Dakota Gold in a report on Wednesday, September 30th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. 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 Stock Performance

The firm’s fifty day simple moving average is $5.97 and its 200 day simple moving average is $5.41. The stock has a market capitalization of $798.60 million, a price-to-earnings ratio of -14.53 and a beta of 1.23.

Institutional Investors Weigh In On Dakota Gold

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Dakota Gold during the 2nd quarter worth about $37,299,000. Euro Pacific Asset Management LLC boosted its position in shares of Dakota Gold by 15.8% during the first 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 during the period. Amundi grew its holdings in shares of Dakota Gold by 3.5% during the second quarter. Amundi now owns 2,225,000 shares of the company’s stock worth $9,478,000 after buying an additional 75,000 shares in the last quarter. Groupe la Francaise grew its holdings in shares of Dakota Gold by 154.5% during the first quarter. Groupe la Francaise now owns 1,400,000 shares of the company’s stock worth $7,041,000 after buying an additional 850,000 shares in the last quarter. Finally, Algert Global LLC raised its position in Dakota Gold by 117.6% in the 2nd quarter. Algert Global LLC now owns 1,137,899 shares of the company’s stock valued at $4,847,000 after buying an additional 615,058 shares during the last quarter. 37.41% of the stock is owned by institutional investors.

About Dakota Gold

Dakota Gold Corp. is a mineral exploration and development company focused on discovering gold deposits in the historic Homestake District of South Dakota. The company’s activities include geological mapping, drilling, resource evaluation and other exploration work aimed at advancing its mineral properties toward potential development.

Dakota Gold’s principal assets are located in the northern Black Hills near the historic Homestake gold mine, one of the most significant gold-producing districts in the United States.