Donald Smith & CO. Inc. Takes $4.60 Million Position in Dakota Gold Corp. $DC

Donald Smith & CO. Inc. bought a new position in shares of Dakota Gold Corp. (NYSE:DC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,080,000 shares of the company’s stock, valued at approximately $4,601,000.

A number of other institutional investors have also recently added to or reduced their stakes in DC. BlackRock Inc. bought a new stake in Dakota Gold during the 2nd quarter worth approximately $37,299,000. Groupe la Francaise raised its stake in shares of Dakota Gold by 154.5% during the first quarter. Groupe la Francaise now owns 1,400,000 shares of the company’s stock valued at $7,041,000 after acquiring an additional 850,000 shares during the last quarter. Amundi raised its stake in shares of Dakota Gold by 43.3% during the first quarter. Amundi now owns 2,150,000 shares of the company’s stock valued at $10,858,000 after acquiring an additional 650,000 shares during the last quarter. Global Strategic Management Inc. acquired a new position in shares of Dakota Gold during the fourth quarter worth $3,094,000. Finally, Royal Bank of Canada lifted its holdings in shares of Dakota Gold by 704.6% during the first quarter. Royal Bank of Canada now owns 574,105 shares of the company’s stock worth $2,899,000 after purchasing an additional 502,754 shares during the period. 37.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DC. Canaccord Genuity Group increased their price objective on Dakota Gold from $16.00 to $18.00 and gave the company a “speculative buy” rating in a report on Tuesday, May 26th. Canadian Imperial Bank of Commerce started coverage on Dakota Gold in a research report on Tuesday, May 5th. They set an “outperform” rating and a $11.00 target price for the company. Finally, HC Wainwright lifted their target price on Dakota Gold from $10.50 to $10.75 and gave the stock a “buy” rating in a report on Thursday, July 16th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $12.44.

Dakota Gold Stock Performance

NYSE:DC opened at $6.15 on Friday. The company has a market capitalization of $825.16 million, a PE ratio of -15.00 and a beta of 1.19. The company has a 50 day simple moving average of $4.92 and a two-hundred day simple moving average of $5.40. Dakota Gold Corp. has a fifty-two week low of $3.79 and a fifty-two week high of $7.25.

Insider Activity at Dakota Gold

In other news, Director Todd J. Kenner acquired 17,921 shares of Dakota Gold stock in a transaction dated Thursday, May 28th. The shares were bought at an average cost of $5.60 per share, with a total value of $100,357.60. Following the purchase, the director owned 17,921 shares in the company, valued at $100,357.60. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 8.50% of the company’s stock.

About Dakota Gold

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.