Dakota Gold (NYSE:DC) Trading Up 9.9% – Here’s Why

Shares of Dakota Gold Corp. (NYSE:DC) shot up 9.9% on Thursday . The stock traded as high as $6.84 and last traded at $6.91. 483,414 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 1,437,422 shares. The stock had previously closed at $6.29.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on DC shares. HC Wainwright began coverage on shares of Dakota Gold in a research report on Monday, January 5th. They set a “buy” rating and a $9.75 target price on the stock. Zacks Research upgraded shares of Dakota Gold to a “hold” rating in a research note on Tuesday, January 6th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.25.

Dakota Gold Stock Performance

The company has a 50 day simple moving average of $5.40 and a two-hundred day simple moving average of $4.68. The firm has a market cap of $792.83 million, a PE ratio of -17.07 and a beta of 1.08.

Institutional Trading of Dakota Gold

A number of institutional investors and hedge funds have recently modified their holdings of DC. Nisa Investment Advisors LLC lifted its stake in Dakota Gold by 109.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,070 shares of the company’s stock valued at $26,000 after buying an additional 3,700 shares in the last quarter. BNP Paribas Financial Markets raised 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 acquiring an additional 4,541 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of Dakota Gold by 130.7% in the second quarter. Ameritas Investment Partners Inc. now owns 8,788 shares of the company’s stock valued at $32,000 after acquiring an additional 4,978 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Dakota Gold in the third quarter worth approximately $46,000. Finally, Financial Engines Advisors L.L.C. purchased a new stake in shares of Dakota Gold during the third quarter worth approximately $46,000. Hedge funds and other institutional investors own 37.41% of the company’s stock.

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.