Dakota Gold (NYSE:DC) Trading 9% Higher – Here’s What Happened

Dakota Gold Corp. (NYSE:DC) shares traded up 9% during mid-day trading on Monday . The company traded as high as $6.50 and last traded at $6.5750. 961,038 shares traded hands during trading, a decline of 37% from the average session volume of 1,529,930 shares. The stock had previously closed at $6.03.

Analyst Ratings Changes

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

Dakota Gold Trading Up 9.3%

The firm has a market capitalization of $746.40 million, a price-to-earnings ratio of -16.07 and a beta of 1.08. The stock has a fifty day moving average of $5.93 and a 200-day moving average of $4.88.

Insider Activity at Dakota Gold

In other news, CFO Shawn Campbell sold 55,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $6.30, for a total transaction of $346,500.00. Following the sale, the chief financial officer owned 179,491 shares in the company, valued at $1,130,793.30. The trade was a 23.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Quartermain sold 250,000 shares of the business’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $6.88, for a total transaction of $1,720,000.00. Following the sale, the chief executive officer directly owned 7,493,244 shares in the company, valued at approximately $51,553,518.72. This trade represents a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On Dakota Gold

A number of hedge funds have recently added to or reduced their stakes in DC. Nisa Investment Advisors LLC increased its stake in shares of Dakota Gold by 109.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,070 shares of the company’s stock worth $26,000 after purchasing an additional 3,700 shares during the last quarter. BNP Paribas Financial Markets lifted 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 worth $31,000 after buying an additional 4,541 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Dakota Gold by 130.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,788 shares of the company’s stock worth $32,000 after acquiring an additional 4,978 shares in the last quarter. Financial Engines Advisors L.L.C. acquired a new position in shares of Dakota Gold during the 3rd quarter valued at about $46,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of 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 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.