Dakota Gold (NYSE:DC) Trading Up 12.3% – Here’s What Happened

Dakota Gold Corp. (NYSE:DC)’s share price was up 12.3% during mid-day trading on Wednesday . The company traded as high as $5.05 and last traded at $5.1750. Approximately 1,039,562 shares changed hands during mid-day trading, an increase of 45% from the average daily volume of 716,789 shares. The stock had previously closed at $4.61.

Dakota Gold Trading Down 0.9%

The firm has a market capitalization of $609.35 million, a price-to-earnings ratio of -13.12 and a beta of 1.11. The stock’s fifty day moving average price is $4.45 and its two-hundred day moving average price is $4.13.

Insider Buying and Selling 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 stock was sold at an average price of $4.66, for a total transaction of $233,000.00. Following the sale, the director owned 918,199 shares of the company’s stock, valued at approximately $4,278,807.34. This trade represents a 5.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 17.40% of the company’s stock.

Institutional Trading of Dakota Gold

A number of hedge funds have recently added to or reduced their stakes in DC. Amundi purchased a new stake in Dakota Gold in the 1st quarter valued at approximately $2,696,000. Franklin Resources Inc. boosted its stake in shares of Dakota Gold by 2.9% in the second quarter. Franklin Resources Inc. now owns 2,520,000 shares of the company’s stock valued at $9,299,000 after buying an additional 70,000 shares in the last quarter. Anson Funds Management LP purchased a new stake in shares of Dakota Gold in the first quarter valued at approximately $464,000. American Century Companies Inc. acquired a new position in Dakota Gold during the first quarter worth $169,000. Finally, Deutsche Bank AG lifted its holdings in Dakota Gold by 4,316.3% in the first quarter. Deutsche Bank AG now owns 70,263 shares of the company’s stock valued at $186,000 after acquiring an additional 68,672 shares during the period. 37.41% of the stock is owned by institutional investors and hedge funds.

About Dakota Gold

Dakota Gold Corp. engages in the acquisition, exploration, and development of mineral properties in the United States. It primarily explores for gold deposits. The company holds 100% interest in the Blind Gold, City Creek, Tinton, West Corridor, Ragged Top, Poorman Anticline, Maitland, South Lead/ Whistler Gulch, the Barrick Option, Richmond Hill and Homestake Paleoplacer Properties located in Homestake Mining District, South Dakota.