Dakota Gold (NYSE:DC) Share Price Crosses Above 50-Day Moving Average – Here’s What Happened

Dakota Gold Corp. (NYSE:DC) shares passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $5.84 and traded as high as $6.02. Dakota Gold shares last traded at $5.95, with a volume of 1,076,137 shares traded.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and set a $10.75 price target on shares of Dakota Gold in a research report on Wednesday, September 30th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.44.

Dakota Gold Stock Up 5.9%

The business has a fifty day simple moving average of $5.84 and a two-hundred day simple moving average of $5.58. The company has a market cap of $798.33 million, a P/E ratio of -14.51 and a beta of 1.27.

Hedge Funds Weigh In On Dakota Gold

A number of large investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Dakota Gold in the 2nd quarter worth approximately $37,299,000. Donald Smith & CO. Inc. purchased a new stake in Dakota Gold during the 2nd quarter valued at approximately $4,601,000. Groupe la Francaise grew its holdings in Dakota Gold by 154.5% in the first quarter. Groupe la Francaise now owns 1,400,000 shares of the company’s stock valued at $7,041,000 after purchasing an additional 850,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Dakota Gold during the 2nd quarter worth approximately $2,821,000. Finally, Amundi boosted its stake in shares of Dakota Gold by 43.3% during the 1st quarter. Amundi now owns 2,150,000 shares of the company’s stock valued at $10,858,000 after buying an additional 650,000 shares during the period. Institutional investors own 37.41% of the company’s stock.

About Dakota Gold

Dakota Gold Corp. 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 center on evaluating prospective properties, conducting geological and drilling programs, and developing resources rather than producing or selling gold.

Its primary exploration assets include the Richmond Hill and Maitland gold projects, located in the northern Black Hills near the historic Homestake mine.