Dakota Gold (NYSE:DC) Sets New 52-Week High – Here’s Why

Dakota Gold Corp. (NYSE:DC)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $7.25 and last traded at $7.0150, with a volume of 302400 shares trading hands. The stock had previously closed at $6.87.

Analyst Ratings Changes

A number of research analysts recently weighed in on DC shares. HC Wainwright began coverage on Dakota Gold in a report on Monday, January 5th. They set a “buy” rating and a $9.75 target price on the stock. Zacks Research upgraded shares of Dakota Gold to a “hold” rating in a 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $10.25.

Dakota Gold Trading Down 4.7%

The firm has a 50-day simple moving average of $5.51 and a two-hundred day simple moving average of $4.73. The stock has a market cap of $741.64 million, a P/E ratio of -16.01 and a beta of 1.08.

Insider Transactions at Dakota Gold

In other Dakota Gold news, CFO Shawn Campbell sold 55,000 shares of the 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 transaction, the chief financial officer owned 179,491 shares in the company, valued at $1,130,793.30. This represents a 23.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert Quartermain sold 250,000 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $6.88, for a total transaction of $1,720,000.00. Following the transaction, the chief executive officer directly owned 7,493,244 shares in the company, valued at $51,553,518.72. This represents a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 17.40% of the company’s stock.

Institutional Trading of Dakota Gold

A number of institutional investors have recently modified their holdings of the stock. Pacific Point Advisors LLC bought a new position in shares of Dakota Gold in the fourth quarter worth $302,000. Brookstone Capital Management acquired a new stake in Dakota Gold during the fourth quarter worth about $76,000. Euro Pacific Asset Management LLC increased its holdings in Dakota Gold by 14.0% in the 4th quarter. Euro Pacific Asset Management LLC now owns 3,051,484 shares of the company’s stock valued at $17,243,000 after buying an additional 374,404 shares during the period. SG Americas Securities LLC acquired a new position in shares of Dakota Gold in the 4th quarter valued at approximately $111,000. Finally, Tudor Investment Corp ET AL bought a new stake in shares of Dakota Gold during the 3rd quarter worth approximately $2,224,000. 37.41% of the stock is currently owned by institutional investors.

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.