Dakota Gold (NYSE:DC) Shares Gap Down – What’s Next?

Dakota Gold Corp. (NYSE:DC)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $4.66, but opened at $4.41. Dakota Gold shares last traded at $4.5520, with a volume of 168,412 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Scotiabank began coverage on shares of Dakota Gold in a report on Monday, February 23rd. They issued a “sector outperform” rating and a $10.00 target price on the stock. HC Wainwright raised their price target on shares of Dakota Gold from $9.75 to $10.50 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Finally, Zacks Research raised shares of Dakota Gold to a “hold” rating in a research report on Tuesday, January 6th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Dakota Gold currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.38.

Dakota Gold Trading Up 2.2%

The business has a fifty day moving average price of $5.97 and a two-hundred day moving average price of $5.29. The firm has a market capitalization of $529.69 million, a PE ratio of -11.12 and a beta of 1.03.

Insiders Place Their Bets

In other Dakota Gold news, CFO Shawn Campbell sold 55,000 shares of the stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $6.30, for a total transaction of $346,500.00. Following the completion of the transaction, the chief financial officer owned 179,491 shares of the company’s stock, valued at $1,130,793.30. This trade represents a 23.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP James Mccoy Berry sold 12,388 shares of Dakota Gold stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $7.02, for a total transaction of $86,963.76. Following the sale, the vice president owned 371,748 shares of the company’s stock, valued at approximately $2,609,670.96. This represents a 3.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 338,595 shares of company stock valued at $2,302,337 over the last 90 days. 17.40% of the stock is owned by company insiders.

Institutional Trading of Dakota Gold

Several institutional investors have recently added to or reduced their stakes in DC. Steward Partners Investment Advisory LLC raised its position in Dakota Gold by 105.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,203 shares of the company’s stock valued at $41,000 after purchasing an additional 3,703 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Dakota Gold by 120.5% during the second quarter. BNP Paribas Financial Markets now owns 8,309 shares of the company’s stock worth $31,000 after buying an additional 4,541 shares during the period. Ameritas Investment Partners Inc. boosted its position in shares of Dakota Gold by 130.7% during the second quarter. Ameritas Investment Partners Inc. now owns 8,788 shares of the company’s stock worth $32,000 after buying an additional 4,978 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Dakota Gold in the fourth quarter valued at $55,000. Finally, Financial Engines Advisors L.L.C. acquired a new stake in shares of Dakota Gold in the third quarter valued at $46,000. Institutional investors and hedge funds own 37.41% of the company’s stock.

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.