Dakota Gold Corp. (NYSE:DC) Receives $11.70 Consensus Price Target from Brokerages

Shares of Dakota Gold Corp. (NYSE:DC) have been assigned an average rating of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $11.70.

Several brokerages have recently weighed in on DC. Canaccord Genuity Group increased their price objective on shares of Dakota Gold from $16.00 to $18.00 and gave the stock a “speculative buy” rating in a research note on Tuesday, May 26th. Canadian Imperial Bank of Commerce started coverage on Dakota Gold in a research note on Tuesday, May 5th. They issued an “outperform” rating and a $11.00 price objective for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $10.50 price objective on shares of Dakota Gold in a research note on Wednesday, April 22nd.

Insiders Place Their Bets

In related news, Director Jennifer S. Grafton sold 15,511 shares of Dakota Gold stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.56, for a total transaction of $86,241.16. Following the transaction, the director owned 144,560 shares in the company, valued at approximately $803,753.60. The trade was a 9.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Todd J. Kenner bought 17,921 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were acquired at an average cost of $5.60 per share, for a total transaction of $100,357.60. Following the purchase, the director directly owned 17,921 shares in the company, valued at $100,357.60. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 8.50% of the stock is currently owned by insiders.

Institutional Trading of Dakota Gold

A number of large investors have recently added to or reduced their stakes in DC. BNP Paribas Financial Markets increased its stake in Dakota Gold by 120.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 8,309 shares of the company’s stock worth $31,000 after acquiring an additional 4,541 shares during the last quarter. Steward Partners Investment Advisory LLC increased 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 buying an additional 3,703 shares during the period. GSA Capital Partners LLP bought a new position in Dakota Gold in the third quarter worth approximately $46,000. Financial Engines Advisors L.L.C. purchased a new position in shares of Dakota Gold during the third quarter valued at $46,000. Finally, Sherbrooke Park Advisers LLC bought a new position in shares of Dakota Gold during the third quarter valued at approximately $46,000. Institutional investors own 37.41% of the company’s stock.

Dakota Gold Stock Down 8.1%

Shares of DC stock opened at $4.09 on Friday. The firm has a market capitalization of $547.77 million, a PE ratio of -9.98 and a beta of 1.14. Dakota Gold has a 52 week low of $3.60 and a 52 week high of $7.25. The company has a 50 day moving average price of $5.48 and a 200-day moving average price of $5.71.

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.