Dakota Gold (NYSE:DC) Reaches New 12-Month High – Still a Buy?

Dakota Gold Corp. (NYSE:DC) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $7.25 and last traded at $7.0150, with a volume of 302400 shares changing hands. The stock had previously closed at $6.87.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Zacks Research upgraded shares of Dakota Gold to a “hold” rating in a report on Tuesday, January 6th. HC Wainwright assumed coverage on shares of Dakota Gold in a research report on Monday, January 5th. They issued a “buy” rating and a $9.75 price objective for the company. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Dakota Gold currently has a consensus rating of “Moderate Buy” and an average target price of $10.25.

Dakota Gold Stock Down 4.7%

The company has a market capitalization of $741.64 million, a P/E ratio of -16.01 and a beta of 1.08. The business has a fifty day moving average price of $5.51 and a 200 day moving average price of $4.73.

Insider Buying and Selling

In related news, CFO Shawn Campbell sold 55,000 shares of the stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $6.30, for a total transaction of $346,500.00. Following the completion of the transaction, the chief financial officer owned 179,491 shares in the company, valued at approximately $1,130,793.30. This represents a 23.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert Quartermain sold 250,000 shares of the firm’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $6.88, for a total transaction of $1,720,000.00. Following the completion of the transaction, the chief executive officer directly owned 7,493,244 shares of the company’s stock, valued at approximately $51,553,518.72. This trade represents a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On Dakota Gold

A number of institutional investors have recently added to or reduced their stakes in DC. Nisa Investment Advisors LLC raised its position in Dakota Gold by 109.8% during the second quarter. Nisa Investment Advisors LLC now owns 7,070 shares of the company’s stock worth $26,000 after acquiring an additional 3,700 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Dakota Gold by 120.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 8,309 shares of the company’s stock worth $31,000 after purchasing an additional 4,541 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Dakota Gold by 130.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,788 shares of the company’s stock valued at $32,000 after purchasing an additional 4,978 shares during the period. GSA Capital Partners LLP acquired a new stake in Dakota Gold in the 3rd quarter valued at about $46,000. Finally, Financial Engines Advisors L.L.C. bought a new position in Dakota Gold during the third quarter worth about $46,000. 37.41% of the stock is currently 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.