HC Wainwright Reaffirms Buy Rating for Dakota Gold (NYSE:DC)

Dakota Gold (NYSE:DC)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They presently have a $10.50 target price on the stock. HC Wainwright’s target price would indicate a potential upside of 82.93% from the company’s previous close.

Several other analysts have also issued reports on DC. Scotiabank started coverage on Dakota Gold in a report on Monday, February 23rd. They set a “sector outperform” rating and a $10.00 target price on the stock. Zacks Research upgraded Dakota Gold to a “hold” rating in a report on Tuesday, January 6th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.38.

Dakota Gold Price Performance

Shares of Dakota Gold stock opened at $5.74 on Wednesday. Dakota Gold has a one year low of $2.62 and a one year high of $7.25. The firm has a market cap of $766.39 million, a price-to-earnings ratio of -14.00 and a beta of 1.20. The stock’s 50-day moving average is $5.67 and its 200-day moving average is $5.41.

Insider Buying and Selling

In other Dakota Gold news, VP James Mccoy Berry sold 12,388 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $7.02, for a total transaction of $86,963.76. Following the transaction, the vice president owned 371,748 shares of the company’s stock, valued at $2,609,670.96. The trade was a 3.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Shawn Campbell sold 21,207 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $7.02, for a total value of $148,873.14. Following the transaction, the chief financial officer directly owned 231,526 shares in the company, valued at approximately $1,625,312.52. This trade represents a 8.39% decrease in their position. The SEC filing for this sale provides additional information. 17.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Dakota Gold

A number of institutional investors have recently bought and sold shares of DC. AQR Capital Management LLC increased its position in Dakota Gold by 87.7% during the first quarter. AQR Capital Management LLC now owns 31,293 shares of the company’s stock worth $83,000 after buying an additional 14,617 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Dakota Gold by 4.1% during the first quarter. Goldman Sachs Group Inc. now owns 210,091 shares of the company’s stock worth $557,000 after buying an additional 8,249 shares during the last quarter. Jane Street Group LLC increased its position in Dakota Gold by 14.9% during the first quarter. Jane Street Group LLC now owns 58,867 shares of the company’s stock worth $156,000 after buying an additional 7,626 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Dakota Gold in the first quarter valued at approximately $87,000. Finally, Rhumbline Advisers grew its position in shares of Dakota Gold by 96.7% in the second quarter. Rhumbline Advisers now owns 230,909 shares of the company’s stock valued at $852,000 after purchasing an additional 113,493 shares during the last quarter. Institutional investors and hedge funds own 37.41% of the company’s stock.

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.