Dakota Gold Sees Unusually Large Options Volume (NYSE:DC)

Dakota Gold Corp. (NYSE:DC) was the target of unusually large options trading activity on Monday. Investors purchased 2,443 call options on the stock. This represents an increase of approximately 281% compared to the typical daily volume of 641 call options.

Institutional Trading of Dakota Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Dakota Gold during the second quarter worth about $37,299,000. Donald Smith & CO. Inc. acquired a new stake in shares of Dakota Gold in the 2nd quarter valued at approximately $4,601,000. Groupe la Francaise boosted its stake in Dakota Gold by 154.5% during the 1st quarter. Groupe la Francaise now owns 1,400,000 shares of the company’s stock worth $7,041,000 after acquiring an additional 850,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Dakota Gold during the 2nd quarter worth approximately $2,821,000. Finally, Amundi grew its holdings in Dakota Gold by 43.3% during the first quarter. Amundi now owns 2,150,000 shares of the company’s stock valued at $10,858,000 after purchasing an additional 650,000 shares during the period. 37.41% of the stock is owned by institutional investors.

Dakota Gold Trading Up 0.3%

NYSE DC opened at $5.83 on Tuesday. Dakota Gold has a 1-year low of $3.79 and a 1-year high of $7.25. The company has a 50 day moving average of $5.39 and a 200-day moving average of $5.40. The firm has a market cap of $782.23 million, a price-to-earnings ratio of -14.22 and a beta of 1.23.

Analyst Upgrades and Downgrades

DC has been the subject of several recent research reports. Canaccord Genuity Group upped their price target on Dakota Gold from $16.00 to $18.00 and gave the company a “speculative buy” rating in a report on Tuesday, May 26th. HC Wainwright restated a “buy” rating on shares of Dakota Gold in a research report on Friday. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Dakota Gold has a consensus rating of “Moderate Buy” and a consensus price target of $12.44.

Dakota Gold Company Profile

Dakota Gold Corp. (NYSE:DC) is a mineral exploration and development company focused on discovering and advancing gold deposits in the historic Homestake District of South Dakota. The company’s activities include geological mapping, drilling, sampling, resource evaluation and other exploration work rather than commercial gold production.

Dakota Gold controls a substantial land position in the Homestake District, an area with a long history of gold mining near Lead, South Dakota. Its exploration portfolio includes projects such as Richmond Hill and Maitland, where the company is evaluating the potential for large-scale gold mineralization and developing targets for further drilling.

The Homestake District was historically one of the most important gold-producing regions in the United States.