Dakota Gold (NYSE:DC) Raised to “Strong-Buy” at Scotiabank

Dakota Gold (NYSE:DC) was upgraded by analysts at Scotiabank to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Zacks Research upgraded Dakota Gold to a “hold” rating in a research note on Tuesday, January 6th. HC Wainwright assumed coverage on shares of Dakota Gold in a research note on Monday, January 5th. They issued a “buy” rating and a $9.75 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Dakota Gold currently has an average rating of “Buy” and a consensus price target of $10.19.

Dakota Gold Stock Up 3.0%

Shares of DC stock opened at $6.55 on Monday. The stock’s 50-day moving average price is $6.08 and its 200 day moving average price is $5.06. The stock has a market capitalization of $760.84 million, a PE ratio of -15.98 and a beta of 1.08. Dakota Gold has a 52-week low of $2.40 and a 52-week high of $7.25.

Insider Buying and Selling

In related news, CFO Shawn Campbell sold 55,000 shares of the company’s stock in a transaction on Wednesday, January 21st. The stock was 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 of the company’s stock, valued at $1,130,793.30. This represents a 23.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert Quartermain sold 250,000 shares of the stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $6.88, for a total value of $1,720,000.00. Following the completion of the transaction, the chief executive officer owned 7,493,244 shares of the company’s stock, valued at $51,553,518.72. The trade was a 3.23% decrease in their position. The SEC filing for this sale provides additional information. 26.02% of the stock is owned by insiders.

Institutional Trading of Dakota Gold

Several hedge funds and other institutional investors have recently made changes to their positions in DC. Nisa Investment Advisors LLC grew its position in Dakota Gold by 109.8% during the second quarter. Nisa Investment Advisors LLC now owns 7,070 shares of the company’s stock worth $26,000 after buying an additional 3,700 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in shares of Dakota Gold by 105.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,203 shares of the company’s stock worth $41,000 after acquiring an additional 3,703 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Dakota Gold by 120.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 8,309 shares of the company’s stock worth $31,000 after acquiring an additional 4,541 shares during the period. Ameritas Investment Partners Inc. grew its holdings in shares of Dakota Gold by 130.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,788 shares of the company’s stock worth $32,000 after acquiring an additional 4,978 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Dakota Gold in the 4th quarter valued at approximately $55,000. Institutional investors and hedge funds own 37.41% 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.