Renaissance Technologies LLC Has $3.04 Million Position in Dakota Gold Corp. $DC

Renaissance Technologies LLC grew its holdings in Dakota Gold Corp. (NYSE:DC) by 142.1% in the first quarter, Holdings Channel.com reports. The firm owned 601,889 shares of the company’s stock after purchasing an additional 353,289 shares during the period. Renaissance Technologies LLC’s holdings in Dakota Gold were worth $3,040,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. BNP Paribas Financial Markets grew its holdings in shares of Dakota Gold by 120.5% during the second quarter. BNP Paribas Financial Markets now owns 8,309 shares of the company’s stock valued at $31,000 after buying an additional 4,541 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Dakota Gold by 105.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,203 shares of the company’s stock worth $41,000 after acquiring an additional 3,703 shares in the last quarter. Financial Engines Advisors L.L.C. acquired a new stake in Dakota Gold during the 3rd quarter worth about $46,000. Sherbrooke Park Advisers LLC acquired a new stake in Dakota Gold during the 3rd quarter worth about $46,000. Finally, Banque Cantonale Vaudoise purchased a new position in Dakota Gold during the 3rd quarter valued at about $46,000. Institutional investors and hedge funds own 37.41% of the company’s stock.

Dakota Gold Stock Up 8.7%

DC stock opened at $6.00 on Friday. The firm has a 50 day moving average of $4.73 and a two-hundred day moving average of $5.43. Dakota Gold Corp. has a 12 month low of $3.74 and a 12 month high of $7.25. The company has a market capitalization of $803.57 million, a price-to-earnings ratio of -14.63 and a beta of 1.19.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Dakota Gold

In related news, Director Jennifer S. Grafton sold 15,511 shares of the company’s stock in a transaction on 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 approximately $803,753.60. This represents a 9.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Todd J. Kenner bought 17,921 shares of the stock in a transaction on Thursday, May 28th. The shares were acquired 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 directly owned 17,921 shares of the company’s stock, valued at approximately $100,357.60. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 8.50% of the stock is currently owned by insiders.

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.