Dakota Gold (NYSE:DC) Shares Gap Up – Time to Buy?

Dakota Gold Corp. (NYSE:DC)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $6.24, but opened at $6.47. Dakota Gold shares last traded at $6.1570, with a volume of 265,411 shares traded.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. HC Wainwright started coverage on shares of Dakota Gold in a research note on Monday, January 5th. They issued a “buy” rating and a $9.75 price target for the company. Zacks Research raised shares of Dakota Gold to a “hold” rating in a research report on Tuesday, January 6th. Two research analysts have rated the stock with a Buy rating and one has given 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 price target of $10.25.

Dakota Gold Stock Performance

The firm’s 50-day moving average price is $5.14 and its two-hundred day moving average price is $4.58. The firm has a market cap of $701.66 million, a PE ratio of -15.11 and a beta of 1.08.

Insider Transactions at Dakota Gold

In other Dakota Gold news, Director Stephen T. O’rourke sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $4.66, for a total value of $233,000.00. Following the completion of the sale, the director owned 918,199 shares in the company, valued at approximately $4,278,807.34. The trade was a 5.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 26.02% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dakota Gold

Several institutional investors have recently bought and sold shares of DC. Nisa Investment Advisors LLC boosted its stake in shares of Dakota Gold by 109.8% in the second quarter. Nisa Investment Advisors LLC now owns 7,070 shares of the company’s stock valued at $26,000 after buying an additional 3,700 shares in the last quarter. BNP Paribas Financial Markets grew its holdings 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 in the last quarter. Ameritas Investment Partners Inc. lifted its position in 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. GSA Capital Partners LLP acquired a new stake in shares of Dakota Gold in the third quarter worth approximately $46,000. Finally, Financial Engines Advisors L.L.C. purchased a new stake in shares of Dakota Gold during the 3rd quarter valued at $46,000. 37.41% of the stock is owned by institutional investors and hedge funds.

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.