Edmond DE Rothschild Holding S.A. Takes $1.10 Million Position in Dakota Gold Corp. $DC

Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Dakota Gold Corp. (NYSE:DC) during the 2nd quarter, Holdings Channel reports. The fund acquired 258,526 shares of the company’s stock, valued at approximately $1,101,000.

A number of other hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC grew its stake in Dakota Gold by 87.7% in the 1st quarter. AQR Capital Management LLC now owns 31,293 shares of the company’s stock worth $83,000 after acquiring an additional 14,617 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Dakota Gold by 4.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 210,091 shares of the company’s stock worth $557,000 after purchasing an additional 8,249 shares during the period. Jane Street Group LLC lifted its stake in shares of Dakota Gold by 14.9% during the 1st quarter. Jane Street Group LLC now owns 58,867 shares of the company’s stock worth $156,000 after purchasing an additional 7,626 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Dakota Gold during the first quarter worth $87,000. Finally, Rhumbline Advisers boosted its holdings in shares of Dakota Gold by 96.7% during the second quarter. Rhumbline Advisers now owns 230,909 shares of the company’s stock worth $852,000 after purchasing an additional 113,493 shares during the last quarter. Institutional investors and hedge funds own 37.41% of the company’s stock.

Insider Activity

In other news, Director Todd J. Kenner acquired 17,921 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was acquired at an average cost of $5.60 per share, for a total transaction of $100,357.60. Following the acquisition, the director directly owned 17,921 shares in the company, valued at approximately $100,357.60. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 8.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on DC. Canaccord Genuity Group lifted their price objective on Dakota Gold from $16.00 to $18.00 and gave the company a “speculative buy” rating in a research report on Tuesday, May 26th. Canadian Imperial Bank of Commerce initiated coverage on Dakota Gold in a research note on Tuesday, May 5th. They issued an “outperform” rating and a $11.00 price target on the stock. Finally, HC Wainwright lifted their price target on Dakota Gold from $10.50 to $10.75 and gave the company a “buy” rating in a report on Thursday, July 16th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $12.44.

Dakota Gold Stock Down 2.1%

NYSE:DC opened at $6.17 on Friday. The company has a market cap of $827.85 million, a P/E ratio of -15.05 and a beta of 1.19. Dakota Gold Corp. has a fifty-two week low of $3.79 and a fifty-two week high of $7.25. The firm’s 50 day moving average is $4.90 and its two-hundred day moving average is $5.40.

Dakota Gold 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.