Traders Purchase Large Volume of Call Options on Dakota Gold (NYSE:DC)

Dakota Gold Corp. (NYSE:DC) was the recipient of some unusual options trading activity on Monday. Investors acquired 2,443 call options on the company. This is an increase of approximately 281% compared to the typical daily volume of 641 call options.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating on shares of Dakota Gold in a research report on Friday. Canaccord Genuity Group upped their target price on shares of Dakota Gold from $16.00 to $18.00 and gave the stock a “speculative buy” rating in a research note on Tuesday, May 26th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.44.

Dakota Gold Stock Performance

Shares of Dakota Gold stock opened at $5.80 on Wednesday. The firm has a market cap of $778.20 million, a PE ratio of -14.15 and a beta of 1.23. The business’s 50 day simple moving average is $5.42 and its 200 day simple moving average is $5.39. Dakota Gold has a 52-week low of $3.79 and a 52-week high of $7.25.

Institutional Trading of Dakota Gold

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC bought a new stake in Dakota Gold during the 2nd quarter worth about $91,000. IFP Advisors Inc grew its holdings in shares of Dakota Gold by 36.5% in the 2nd quarter. IFP Advisors Inc now owns 6,872 shares of the company’s stock valued at $29,000 after acquiring an additional 1,838 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of Dakota Gold by 14.7% in the second quarter. Squarepoint Ops LLC now owns 107,865 shares of the company’s stock valued at $460,000 after acquiring an additional 13,789 shares during the last quarter. Corient Private Wealth LP acquired a new stake in shares of Dakota Gold in the second quarter valued at about $117,000. Finally, Amundi raised its holdings in Dakota Gold by 3.5% during the second quarter. Amundi now owns 2,225,000 shares of the company’s stock worth $9,478,000 after acquiring an additional 75,000 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. (NYSE:DC) 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 include geological mapping, drilling, sampling, resource evaluation and other exploration work rather than commercial gold production.

Dakota Gold controls a substantial land position in the Homestake District, an area with a long history of gold mining near Lead, South Dakota. Its exploration portfolio includes projects such as Richmond Hill and Maitland, where the company is evaluating the potential for large-scale gold mineralization and developing targets for further drilling.

The Homestake District was historically one of the most important gold-producing regions in the United States.