Dakota Gold (NYSE:DC) Trading Up 9% – Should You Buy?

Shares of Dakota Gold Corp. (NYSE:DC) traded up 9% during trading on Monday . The stock traded as high as $6.50 and last traded at $6.5750. 961,038 shares changed hands during trading, a decline of 37% from the average session volume of 1,529,930 shares. The stock had previously closed at $6.03.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DC. Zacks Research upgraded shares of Dakota Gold to a “hold” rating in a report on Tuesday, January 6th. HC Wainwright started coverage on Dakota Gold in a research report on Monday, January 5th. They issued a “buy” rating and a $9.75 price target on the stock. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.25.

Dakota Gold Trading Up 9.3%

The company has a fifty day moving average price of $5.93 and a two-hundred day moving average price of $4.88. The company has a market cap of $746.40 million, a price-to-earnings ratio of -16.07 and a beta of 1.08.

Insider Buying and Selling at Dakota Gold

In related news, CEO Robert Quartermain sold 250,000 shares of Dakota Gold stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $6.88, for a total transaction of $1,720,000.00. Following the completion of the transaction, the chief executive officer directly owned 7,493,244 shares of the company’s stock, valued at $51,553,518.72. This trade represents a 3.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Shawn Campbell sold 55,000 shares of the company’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $6.30, for a total transaction of $346,500.00. Following the sale, the chief financial officer directly owned 179,491 shares in the company, valued at $1,130,793.30. This represents a 23.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 17.40% of the stock is currently owned by insiders.

Institutional Trading of Dakota Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. increased its holdings 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 purchasing an additional 70,000 shares in the last quarter. Euro Pacific Asset Management LLC raised its position in shares of Dakota Gold by 15.4% during the third quarter. Euro Pacific Asset Management LLC now owns 2,677,080 shares of the company’s stock worth $12,171,000 after acquiring an additional 358,168 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Dakota Gold by 29.7% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 433,218 shares of the company’s stock valued at $1,599,000 after acquiring an additional 99,131 shares during the period. Geode Capital Management LLC increased its position in Dakota Gold by 20.6% in the second quarter. Geode Capital Management LLC now owns 1,850,272 shares of the company’s stock worth $6,829,000 after purchasing an additional 316,043 shares during the period. Finally, Aegis Financial Corp bought a new stake in Dakota Gold during the 2nd quarter worth about $111,000. 37.41% of the stock is currently owned by institutional investors and hedge funds.

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.