Electrum Group LLC Takes Position in Dakota Gold Corp. $DC

Electrum Group LLC acquired a new stake in shares of Dakota Gold Corp. (NYSE:DC) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 360,755 shares of the company’s stock, valued at approximately $1,310,000. Dakota Gold accounts for about 0.1% of Electrum Group LLC’s portfolio, making the stock its 9th largest holding.

Several other institutional investors have also recently modified their holdings of DC. Vanguard Group Inc. grew its position in Dakota Gold by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,814,323 shares of the company’s stock worth $21,905,000 after acquiring an additional 41,992 shares during the last quarter. Euro Pacific Asset Management LLC grew its position in Dakota Gold by 14.0% during the 4th quarter. Euro Pacific Asset Management LLC now owns 3,051,484 shares of the company’s stock worth $17,243,000 after acquiring an additional 374,404 shares during the last quarter. Franklin Resources Inc. grew its position in Dakota Gold by 5.7% during the 4th quarter. Franklin Resources Inc. now owns 2,955,377 shares of the company’s stock worth $16,787,000 after acquiring an additional 160,300 shares during the last quarter. Geode Capital Management LLC grew its position in Dakota Gold by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 2,004,657 shares of the company’s stock worth $11,389,000 after acquiring an additional 84,031 shares during the last quarter. Finally, Amundi grew its position in Dakota Gold by 46.3% during the 3rd quarter. Amundi now owns 1,500,000 shares of the company’s stock worth $6,900,000 after acquiring an additional 475,000 shares during the last quarter. 37.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DC. Scotiabank began coverage on Dakota Gold in a research report on Monday, February 23rd. They set a “sector outperform” rating and a $10.00 price target on the stock. Canaccord Genuity Group raised their price target on 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 restated a “buy” rating and set a $10.50 price target on shares of Dakota Gold in a research report on Wednesday, April 22nd. Finally, Canadian Imperial Bank of Commerce began coverage on Dakota Gold in a research report on Tuesday, May 5th. They set an “outperform” rating and a $11.00 price target on the stock. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.70.

Insider Buying and Selling

In other news, Director Jennifer S. Grafton sold 15,511 shares of Dakota Gold stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $5.56, for a total value of $86,241.16. Following the sale, the director directly owned 144,560 shares in the company, valued at approximately $803,753.60. This trade represents a 9.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Todd J. Kenner acquired 17,921 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was acquired at an average price of $5.60 per share, for a total transaction of $100,357.60. Following the completion of the transaction, the director owned 17,921 shares in the company, valued at approximately $100,357.60. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. 8.50% of the stock is currently owned by company insiders.

Dakota Gold Stock Performance

Shares of DC stock opened at $4.89 on Wednesday. The firm has a market cap of $654.91 million, a P/E ratio of -11.93 and a beta of 1.14. Dakota Gold Corp. has a fifty-two week low of $3.60 and a fifty-two week high of $7.25. The business’s 50 day moving average price is $5.59 and its 200-day moving average price is $5.69.

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.