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

Dakota Gold (NYSE:DC) had its target price upped by equities researchers at Canaccord Genuity Group from $16.00 to $18.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “speculative buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 222.00% from the company’s previous close.

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

Dakota Gold Stock Up 6.9%

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

Insider Buying and Selling at Dakota Gold

In related news, Director Jennifer S. Grafton sold 15,511 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.56, for a total transaction of $86,241.16. Following the completion of the sale, the director directly owned 144,560 shares in the company, valued at $803,753.60. This represents a 9.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP James Mccoy Berry sold 12,388 shares of the company’s 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 sale, the vice president owned 371,748 shares of the company’s stock, valued at $2,609,670.96. This trade represents a 3.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 49,106 shares of company stock valued at $322,078 in the last quarter. 8.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its holdings in shares of Dakota Gold by 120.5% in the second quarter. BNP Paribas Financial Markets now owns 8,309 shares of the company’s stock valued at $31,000 after purchasing an additional 4,541 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in shares of 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. GSA Capital Partners LLP acquired a new position in shares of Dakota Gold in the third quarter valued at about $46,000. Financial Engines Advisors L.L.C. acquired a new position in shares of Dakota Gold in the third quarter valued at about $46,000. Finally, Sherbrooke Park Advisers LLC acquired a new stake in Dakota Gold during the third quarter worth about $46,000. 37.41% of the stock is owned by institutional investors and hedge funds.

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.