Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 662,173 Dakota Gold Corp. $DC

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Dakota Gold Corp. (NYSE:DC) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 662,173 shares of the company’s stock, valued at approximately $2,821,000. Connor Clark & Lunn Investment Management Ltd. owned 0.49% of Dakota Gold at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in DC. Global Retirement Partners LLC bought a new position in Dakota Gold during the second quarter worth $29,000. Steward Partners Investment Advisory LLC raised its position in shares of Dakota Gold by 105.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,203 shares of the company’s stock valued at $41,000 after purchasing an additional 3,703 shares during the period. BNP Paribas Financial Markets lifted 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 buying an additional 4,541 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Dakota Gold during the 4th quarter worth about $55,000. Finally, Financial Engines Advisors L.L.C. bought a new stake in shares of Dakota Gold during the 3rd quarter worth about $46,000. Institutional investors own 37.41% of the company’s stock.

Dakota Gold Stock Performance

DC opened at $6.04 on Friday. Dakota Gold Corp. has a fifty-two week low of $3.79 and a fifty-two week high of $7.25. The company has a market capitalization of $810.40 million, a P/E ratio of -14.73 and a beta of 1.19. The stock has a fifty day moving average of $5.04 and a 200-day moving average of $5.41.

Wall Street Analysts Forecast Growth

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

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.