Dakota Gold (NYSE:DC) Shares Climb 5.1% – Here’s What Happened

Dakota Gold Corp. (NYSE:DC) shares traded up 5.1% on Thursday. The stock traded as high as $5.85 and last traded at $5.8950. Approximately 692,823 shares traded hands during trading, a decline of 56% from the average daily volume of 1,557,851 shares. The stock had previously closed at $5.61.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and issued a $10.75 price objective on shares of Dakota Gold in a research report on Wednesday, September 30th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Dakota Gold presently has a consensus rating of “Moderate Buy” and an average price target of $12.44.

Dakota Gold Price Performance

The firm has a 50-day moving average of $5.97 and a 200 day moving average of $5.41. The stock has a market capitalization of $798.60 million, a price-to-earnings ratio of -14.53 and a beta of 1.23.

Institutional Investors Weigh In On Dakota Gold

Several large investors have recently made changes to their positions in DC. Hickory Point Bank & Trust bought a new stake in Dakota Gold during the third quarter worth $30,000. Sequoia Financial Advisors LLC acquired a new stake in Dakota Gold in the 2nd quarter valued at about $91,000. IFP Advisors Inc lifted its stake in Dakota Gold by 36.5% in the 2nd quarter. IFP Advisors Inc now owns 6,872 shares of the company’s stock valued at $29,000 after purchasing an additional 1,838 shares during the last quarter. Squarepoint Ops LLC grew its holdings in Dakota Gold by 14.7% during the second quarter. Squarepoint Ops LLC now owns 107,865 shares of the company’s stock worth $460,000 after purchasing an additional 13,789 shares during the period. Finally, Corient Private Wealth LP acquired a new position in Dakota Gold during the second quarter worth approximately $117,000. Institutional investors and hedge funds own 37.41% of the company’s stock.

Dakota Gold Company Profile

Dakota Gold Corp. is a mineral exploration and development company focused on discovering gold deposits in the historic Homestake District of South Dakota. The company’s activities include geological mapping, drilling, resource evaluation and other exploration work aimed at advancing its mineral properties toward potential development.

Dakota Gold’s principal assets are located in the northern Black Hills near the historic Homestake gold mine, one of the most significant gold-producing districts in the United States.