Dakota Gold (NYSE:DC) Price Target Raised to $18.00

Dakota Gold (NYSE:DC) had its price target raised by investment analysts at Canaccord Genuity Group from $16.00 to $18.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “speculative buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 222.00% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Scotiabank started coverage on Dakota Gold in a research note on Monday, February 23rd. They set a “sector outperform” rating and a $10.00 target price for the company. Canadian Imperial Bank of Commerce started coverage on Dakota Gold in a research note on Tuesday, May 5th. They set an “outperform” rating and a $11.00 target price for the company. Finally, HC Wainwright reissued a “buy” rating and set a $10.50 target price on shares of Dakota Gold in a research note on Wednesday, April 22nd. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.70.

Dakota Gold Price Performance

DC stock traded up $0.36 during mid-day trading on Tuesday, reaching $5.59. 241,774 shares of the company’s stock were exchanged, compared to its average volume of 1,602,181. The company has a market cap of $748.66 million, a price-to-earnings ratio of -13.63 and a beta of 1.14. The stock’s 50 day moving average is $5.45 and its 200 day moving average is $5.58. Dakota Gold has a 12-month low of $2.96 and a 12-month high of $7.25.

Insiders Place Their Bets

In other news, VP James Mccoy Berry sold 12,388 shares of Dakota Gold stock in a transaction on Friday, February 27th. The stock was sold at an average price of $7.02, for a total value of $86,963.76. Following the completion of the sale, the vice president directly owned 371,748 shares of the company’s stock, valued at approximately $2,609,670.96. The trade was a 3.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Shawn Campbell sold 21,207 shares of Dakota Gold stock in a transaction on Friday, February 27th. The shares were sold at an average price of $7.02, for a total value of $148,873.14. Following the completion of the sale, the chief financial officer directly owned 231,526 shares of the company’s stock, valued at $1,625,312.52. The trade was a 8.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 49,106 shares of company stock valued at $322,078 over the last quarter. 8.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Dakota Gold

A number of institutional investors have recently modified their holdings of DC. Fiscal Wisdom Wealth Management LLC acquired a new stake in shares of Dakota Gold in the third quarter valued at $3,659,000. Groupe la Francaise grew its stake in shares of Dakota Gold by 154.5% in the first quarter. Groupe la Francaise now owns 1,400,000 shares of the company’s stock valued at $7,041,000 after buying an additional 850,000 shares in the last quarter. Amundi grew its stake in shares of Dakota Gold by 43.3% in the first quarter. Amundi now owns 2,150,000 shares of the company’s stock valued at $10,858,000 after buying an additional 650,000 shares in the last quarter. Global Strategic Management Inc. acquired a new stake in shares of Dakota Gold in the fourth quarter valued at $3,094,000. Finally, Royal Bank of Canada grew its stake in shares of Dakota Gold by 704.6% in the first quarter. Royal Bank of Canada now owns 574,105 shares of the company’s stock valued at $2,899,000 after buying an additional 502,754 shares in the last quarter. 37.41% of the stock is owned by institutional investors and hedge funds.

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.