Dakota Gold (NYSE:DC) Shares Down 8% – What’s Next?

Dakota Gold Corp. (NYSE:DC)’s stock price dropped 8% during trading on Monday . The stock traded as low as $5.59 and last traded at $5.61. Approximately 276,796 shares were traded during trading, a decline of 84% from the average daily volume of 1,716,998 shares. The stock had previously closed at $6.10.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Zacks Research raised Dakota Gold to a “hold” rating in a research note on Tuesday, January 6th. Scotiabank initiated coverage on Dakota Gold in a report on Monday, February 23rd. They issued a “sector outperform” rating and a $10.00 target price on the stock. Finally, HC Wainwright initiated coverage on Dakota Gold in a research report on Monday, January 5th. They issued a “buy” rating and a $9.75 price target for the company. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Dakota Gold currently has an average rating of “Moderate Buy” and a consensus target price of $10.19.

Dakota Gold Price Performance

The firm’s 50-day moving average price is $6.18 and its 200 day moving average price is $5.23. The firm has a market capitalization of $731.80 million, a price-to-earnings ratio of -15.37 and a beta of 1.03.

Insider Buying and Selling at Dakota Gold

In other news, CFO Shawn Campbell sold 21,207 shares of the business’s stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 231,526 shares of the company’s stock, valued at $1,625,312.52. The trade was a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Robert Quartermain sold 250,000 shares of the company’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $6.88, for a total value of $1,720,000.00. Following the completion of the sale, the chief executive officer owned 7,493,244 shares in the company, valued at $51,553,518.72. This represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 338,595 shares of company stock worth $2,302,337. 17.40% of the stock is owned by insiders.

Institutional Trading of Dakota Gold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DC. BNP Paribas Financial Markets lifted its holdings in 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 in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Dakota Gold by 130.7% during the second quarter. Ameritas Investment Partners Inc. now owns 8,788 shares of the company’s stock worth $32,000 after buying an additional 4,978 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Dakota Gold by 105.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,203 shares of the company’s stock valued at $41,000 after buying an additional 3,703 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Dakota Gold during the third quarter valued at approximately $46,000. Finally, Financial Engines Advisors L.L.C. acquired a new stake in Dakota Gold during the third quarter worth approximately $46,000. Hedge funds and other institutional investors 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.