Dakota Gold (NYSE:DC) Trading 9.9% Higher – Still a Buy?

Dakota Gold Corp. (NYSE:DC) was up 9.9% on Thursday . The stock traded as high as $6.84 and last traded at $6.91. Approximately 483,414 shares were traded during trading, a decline of 66% from the average daily volume of 1,437,422 shares. The stock had previously closed at $6.29.

Analyst Ratings Changes

A number of equities analysts have recently commented on DC shares. HC Wainwright started coverage on Dakota Gold in a report on Monday, January 5th. They issued a “buy” rating and a $9.75 target price for the company. Zacks Research raised shares of Dakota Gold to a “hold” rating in a research note on Tuesday, January 6th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.25.

Dakota Gold Trading Up 11.3%

The company has a 50-day simple moving average of $5.40 and a 200 day simple moving average of $4.68. The company has a market cap of $792.83 million, a P/E ratio of -17.07 and a beta of 1.08.

Institutional Investors Weigh In On Dakota Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its position in Dakota Gold by 87.7% in the 1st quarter. AQR Capital Management LLC now owns 31,293 shares of the company’s stock valued at $83,000 after buying an additional 14,617 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Dakota Gold by 4.1% during the first quarter. Goldman Sachs Group Inc. now owns 210,091 shares of the company’s stock valued at $557,000 after acquiring an additional 8,249 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of Dakota Gold by 14.9% in the first quarter. Jane Street Group LLC now owns 58,867 shares of the company’s stock valued at $156,000 after purchasing an additional 7,626 shares during the period. Acadian Asset Management LLC bought a new position in Dakota Gold in the first quarter worth approximately $87,000. Finally, Rhumbline Advisers increased its holdings in Dakota Gold by 3.1% during the 1st quarter. Rhumbline Advisers now owns 117,416 shares of the company’s stock worth $311,000 after purchasing an additional 3,543 shares during the period. Institutional investors 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.