360,755 Shares in Dakota Gold Corp. $DC Purchased by Electrum Group LLC

Electrum Group LLC acquired a new position in shares of Dakota Gold Corp. (NYSE:DC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 360,755 shares of the company’s stock, valued at approximately $1,310,000. Dakota Gold makes up about 0.1% of Electrum Group LLC’s investment portfolio, making the stock its 9th largest position. Electrum Group LLC owned 0.32% of Dakota Gold as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. LPL Financial LLC lifted its holdings in Dakota Gold by 2.6% during the 4th quarter. LPL Financial LLC now owns 128,407 shares of the company’s stock worth $729,000 after purchasing an additional 3,224 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Dakota Gold by 5.7% during the 4th quarter. Franklin Resources Inc. now owns 2,955,377 shares of the company’s stock worth $16,787,000 after purchasing an additional 160,300 shares in the last quarter. Tradition Wealth Management LLC lifted its holdings in Dakota Gold by 38.6% during the 4th quarter. Tradition Wealth Management LLC now owns 27,309 shares of the company’s stock worth $155,000 after purchasing an additional 7,600 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Dakota Gold by 7.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 331,050 shares of the company’s stock worth $1,880,000 after acquiring an additional 22,553 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Dakota Gold by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 2,004,657 shares of the company’s stock worth $11,389,000 after acquiring an additional 84,031 shares during the last quarter. Hedge funds and other institutional investors own 37.41% of the company’s stock.

Dakota Gold Stock Down 3.2%

Shares of NYSE DC opened at $4.89 on Wednesday. The firm has a market capitalization of $654.91 million, a P/E ratio of -11.93 and a beta of 1.14. The stock’s 50-day simple moving average is $5.59 and its two-hundred day simple moving average is $5.69. Dakota Gold Corp. has a twelve month low of $3.60 and a twelve month high of $7.25.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DC shares. Canaccord Genuity Group upped their target price on Dakota Gold from $16.00 to $18.00 and gave the stock a “speculative buy” rating in a research note on Tuesday, May 26th. Canadian Imperial Bank of Commerce started coverage on Dakota Gold in a research note on Tuesday, May 5th. They issued an “outperform” rating and a $11.00 target price on the stock. HC Wainwright restated a “buy” rating and issued a $10.50 target price on shares of Dakota Gold in a research note on Wednesday, April 22nd. Finally, Scotiabank started coverage on Dakota Gold in a research note on Monday, February 23rd. They issued a “sector outperform” rating and a $10.00 target price on the stock. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Dakota Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.70.

Insider Activity

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 purchased at an average cost of $5.60 per share, for a total transaction of $100,357.60. Following the transaction, the director owned 17,921 shares of the company’s stock, valued at $100,357.60. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jennifer S. Grafton sold 15,511 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.56, for a total value of $86,241.16. Following the transaction, the director owned 144,560 shares in the company, valued at $803,753.60. This trade represents a 9.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.50% of the stock is currently owned by corporate insiders.

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.