Dakota Gold (NYSE:DC) Shares Gap Down – What’s Next?

Dakota Gold Corp. (NYSE:DC) gapped down prior to trading on Thursday . The stock had previously closed at $5.31, but opened at $4.94. Dakota Gold shares last traded at $5.1830, with a volume of 115,121 shares traded.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. HC Wainwright raised their target price on Dakota Gold from $9.75 to $10.50 and gave the company a “buy” rating in a research note on Wednesday, March 18th. Zacks Research raised Dakota Gold to a “hold” rating in a report on Tuesday, January 6th. Finally, Scotiabank started coverage on Dakota Gold in a research note on Monday, February 23rd. They set a “sector outperform” rating and a $10.00 price objective for the company. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Dakota Gold has a consensus rating of “Moderate Buy” and a consensus target price of $10.38.

Dakota Gold Price Performance

The stock has a 50 day simple moving average of $5.82 and a 200 day simple moving average of $5.30. The company has a market capitalization of $698.29 million, a price-to-earnings ratio of -12.76 and a beta of 1.20.

Insider Activity at Dakota Gold

In related news, CFO Shawn Campbell sold 21,207 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $7.02, for a total transaction of $148,873.14. Following the completion of the transaction, the chief financial officer owned 231,526 shares of the company’s stock, valued at $1,625,312.52. This trade represents a 8.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP James Mccoy Berry sold 12,388 shares of Dakota Gold stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $7.02, for a total value of $86,963.76. Following the transaction, the vice president directly owned 371,748 shares in the company, valued at approximately $2,609,670.96. The trade was a 3.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 338,595 shares of company stock worth $2,302,337 in the last three months. 17.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. LPL Financial LLC raised its stake in Dakota Gold by 2.6% during the 4th quarter. LPL Financial LLC now owns 128,407 shares of the company’s stock valued at $729,000 after purchasing an additional 3,224 shares during the period. AQR Capital Management LLC raised its position in Dakota Gold by 4.9% during the fourth quarter. AQR Capital Management LLC now owns 75,001 shares of the company’s stock valued at $426,000 after buying an additional 3,498 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in Dakota Gold by 105.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,203 shares of the company’s stock worth $41,000 after acquiring an additional 3,703 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Dakota Gold by 15.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,058 shares of the company’s stock worth $118,000 after acquiring an additional 4,377 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in shares of Dakota Gold by 120.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 8,309 shares of the company’s stock valued at $31,000 after purchasing an additional 4,541 shares during the period. 37.41% of the stock is currently owned by institutional investors and hedge funds.

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.