Dakota Gold (NYSE:DC) Shares Gap Down – Here’s What Happened

Dakota Gold Corp. (NYSE:DC) shares gapped down before the market opened 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.

Analysts Set New Price Targets

DC has been the topic of a number of recent research reports. Scotiabank started coverage on shares of Dakota Gold in a research report on Monday, February 23rd. They set a “sector outperform” rating and a $10.00 price target on the stock. HC Wainwright raised their target price on shares of Dakota Gold from $9.75 to $10.50 and gave the company a “buy” rating in a research note on Wednesday, March 18th. Finally, Zacks Research upgraded shares of 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, Dakota Gold currently has a consensus rating of “Moderate Buy” and an average target price of $10.38.

Dakota Gold Stock Down 0.2%

The firm has a market cap of $707.51 million, a price-to-earnings ratio of -12.84 and a beta of 1.20. The business has a 50 day moving average price of $5.89 and a 200-day moving average price of $5.30.

Insider Buying and Selling at Dakota Gold

In other news, VP James Mccoy Berry sold 12,388 shares of the company’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $7.02, for a total value of $86,963.76. Following the completion of the transaction, the vice president directly owned 371,748 shares in the company, valued at approximately $2,609,670.96. This represents a 3.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Shawn Campbell sold 21,207 shares of the firm’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $7.02, for a total transaction of $148,873.14. Following the sale, the chief financial officer directly owned 231,526 shares of the company’s stock, valued at approximately $1,625,312.52. The trade was a 8.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 338,595 shares of company stock valued at $2,302,337 over the last 90 days. 17.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dakota Gold

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Dakota Gold by 0.9% during the third quarter. Vanguard Group Inc. now owns 4,814,323 shares of the company’s stock valued at $21,905,000 after acquiring an additional 41,992 shares in the last quarter. Euro Pacific Asset Management LLC grew its position in shares of Dakota Gold by 14.0% during the fourth quarter. Euro Pacific Asset Management LLC now owns 3,051,484 shares of the company’s stock worth $17,243,000 after buying an additional 374,404 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Dakota Gold by 5.7% in the fourth quarter. Franklin Resources Inc. now owns 2,955,377 shares of the company’s stock worth $16,787,000 after buying an additional 160,300 shares during the last quarter. Geode Capital Management LLC raised its holdings in Dakota Gold by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 2,004,657 shares of the company’s stock valued at $11,389,000 after acquiring an additional 84,031 shares in the last quarter. Finally, State Street Corp raised its holdings in Dakota Gold by 5.9% in the fourth quarter. State Street Corp now owns 1,577,664 shares of the company’s stock valued at $8,961,000 after acquiring an additional 88,171 shares in 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.