Royal Bank of Canada Raises Stock Holdings in Dakota Gold Corp. $DC

Royal Bank of Canada boosted its position in shares of Dakota Gold Corp. (NYSE:DC) by 704.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 574,105 shares of the company’s stock after buying an additional 502,754 shares during the quarter. Royal Bank of Canada owned approximately 0.43% of Dakota Gold worth $2,899,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in DC. BNP Paribas Financial Markets increased its position in shares of Dakota Gold by 120.5% in the second quarter. BNP Paribas Financial Markets now owns 8,309 shares of the company’s stock valued at $31,000 after acquiring an additional 4,541 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in shares of Dakota Gold by 105.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,203 shares of the company’s stock worth $41,000 after purchasing an additional 3,703 shares during the period. Banque Cantonale Vaudoise purchased a new stake in shares of Dakota Gold during the third quarter worth about $46,000. Sherbrooke Park Advisers LLC bought a new stake in shares of Dakota Gold in the third quarter worth about $46,000. Finally, Financial Engines Advisors L.L.C. bought a new stake in shares of Dakota Gold in the third quarter worth about $46,000. Hedge funds and other institutional investors own 37.41% of the company’s stock.

Analysts Set New Price Targets

DC has been the subject of several research analyst reports. Canaccord Genuity Group increased their price objective on Dakota Gold from $16.00 to $18.00 and gave the stock a “speculative buy” rating in a report on Tuesday, May 26th. HC Wainwright boosted their target price on Dakota Gold from $10.50 to $10.75 and gave the company a “buy” rating in a research note on Thursday, July 16th. Finally, Canadian Imperial Bank of Commerce started coverage on Dakota Gold in a research note on Tuesday, May 5th. They set an “outperform” rating and a $11.00 target price on the stock. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Dakota Gold has a consensus rating of “Moderate Buy” and an average target price of $12.44.

Insider Activity

In other Dakota Gold news, Director Jennifer S. Grafton sold 15,511 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.56, for a total value of $86,241.16. Following the completion of the sale, the director directly owned 144,560 shares in the company, valued at $803,753.60. This trade represents a 9.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Todd J. Kenner acquired 17,921 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were purchased at an average cost of $5.60 per share, for a total transaction of $100,357.60. Following the completion of the transaction, the director owned 17,921 shares in the company, valued at approximately $100,357.60. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 8.50% of the company’s stock.

Dakota Gold Trading Up 1.0%

Shares of DC opened at $6.23 on Friday. Dakota Gold Corp. has a 1-year low of $3.74 and a 1-year high of $7.25. The firm’s 50-day moving average price is $4.79 and its 200-day moving average price is $5.42. The firm has a market capitalization of $834.37 million, a price-to-earnings ratio of -15.20 and a beta of 1.19.

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.