Dakota Gold (NYSE:DC) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Dakota Gold Corp. (NYSE:DC) shares passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $5.61 and traded as high as $5.68. Dakota Gold shares last traded at $5.65, with a volume of 916,486 shares.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and issued a $10.75 target price on shares of Dakota Gold in a report on Wednesday, September 30th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the 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 Price Performance

The firm has a market capitalization of $680.26 million, a PE ratio of -12.37 and a beta of 1.23. The company has a fifty day moving average of $5.91 and a 200-day moving average of $5.60.

Institutional Investors Weigh In On Dakota Gold

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Dakota Gold during the second quarter worth $37,299,000. Donald Smith & CO. Inc. acquired a new stake in shares of Dakota Gold in the second quarter worth about $4,601,000. Groupe la Francaise lifted its position in shares of Dakota Gold by 154.5% in the first 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Dakota Gold in the second quarter worth about $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 worth $10,858,000 after acquiring an additional 650,000 shares in the last quarter. 37.41% of the stock is currently owned by institutional investors and hedge funds.

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.