Dakota Gold (NYSE:DC) Stock Price Up 8.1% – Here’s What Happened

Dakota Gold Corp. (NYSE:DC) shares traded up 8.1% on Tuesday . The stock traded as high as $6.83 and last traded at $6.8550. 1,420,660 shares changed hands during mid-day trading, a decline of 9% from the average daily volume of 1,569,340 shares. The stock had previously closed at $6.34.

Wall Street Analyst Weigh In

Several research analysts have commented on DC shares. HC Wainwright reaffirmed a “buy” rating on shares of Dakota Gold in a research report on Friday, September 11th. Canaccord Genuity Group upped 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. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Dakota Gold presently has an average rating of “Moderate Buy” and a consensus target price of $12.44.

Dakota Gold Price Performance

The stock has a market cap of $930.49 million, a P/E ratio of -16.82 and a beta of 1.23. The company’s 50 day simple moving average is $5.55 and its 200 day simple moving average is $5.37.

Hedge Funds Weigh In On Dakota Gold

Hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC bought a new position in Dakota Gold in the second quarter valued at $29,000. IFP Advisors Inc lifted its position in shares of Dakota Gold by 36.5% in the second quarter. IFP Advisors Inc now owns 6,872 shares of the company’s stock valued at $29,000 after buying an additional 1,838 shares during the last quarter. Legal & General Group Plc bought a new position in shares of Dakota Gold during the 2nd quarter worth approximately $48,000. Ieq Capital LLC bought a new position in Dakota Gold during the second quarter worth $64,000. Finally, 55 North Private Wealth LLC boosted its holdings in shares of Dakota Gold by 27.6% during the 2nd quarter. 55 North Private Wealth LLC now owns 17,638 shares of the company’s stock worth $75,000 after buying an additional 3,812 shares during the period. 37.41% of the stock is owned by institutional investors.

About Dakota Gold

Dakota Gold Corp. (NYSE:DC) is a mineral exploration and development company focused on discovering and advancing gold deposits in the historic Homestake District of South Dakota. The company’s activities include geological mapping, drilling, sampling, resource evaluation and other exploration work rather than commercial gold production.

Dakota Gold controls a substantial land position in the Homestake District, an area with a long history of gold mining near Lead, South Dakota. Its exploration portfolio includes projects such as Richmond Hill and Maitland, where the company is evaluating the potential for large-scale gold mineralization and developing targets for further drilling.

The Homestake District was historically one of the most important gold-producing regions in the United States.