Palogic Value Management L.P. Makes New Investment in Dakota Gold Corp. $DC

Palogic Value Management L.P. bought a new position in shares of Dakota Gold Corp. (NYSE:DC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 100,001 shares of the company’s stock, valued at approximately $426,000. Palogic Value Management L.P. owned 0.07% of Dakota Gold as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Dakota Gold during the 2nd quarter worth $37,299,000. Donald Smith & CO. Inc. purchased a new stake in shares of Dakota Gold in the 2nd quarter worth $4,601,000. Groupe la Francaise grew its position in shares of Dakota Gold by 154.5% during the 1st 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. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Dakota Gold during the 2nd quarter worth $2,821,000. Finally, Amundi increased its stake in shares of Dakota Gold by 43.3% during the first 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.

Wall Street Analysts Forecast Growth

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

Dakota Gold Trading Down 4.5%

DC opened at $6.10 on Thursday. The firm has a market cap of $818.46 million, a price-to-earnings ratio of -14.88 and a beta of 1.19. Dakota Gold Corp. has a 12 month low of $3.79 and a 12 month high of $7.25. The stock has a fifty day moving average price of $4.99 and a 200-day moving average price of $5.40.

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.