Dakota Gold (NYSE:DC) Hits New 1-Year High - Still a Buy?

Key Points

• Dakota Gold Corp. shares reached a new 52-week high of $5.29, showing an increase in trading volume with 287,294 shares exchanged.
• BMO Capital Markets reaffirmed an "outperform" rating on Dakota Gold, raising the target price from $7.50 to $9.00, while the consensus target price is $10.50.
• Institutional investors have shown increased interest, with notable stakes raised by multiple firms during the second quarter, suggesting a positive outlook for the company.

Shares of Dakota Gold Corp. (NYSE:DC - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $5.27 and last traded at $5.29, with a volume of 287294 shares changing hands. The stock had previously closed at $5.04.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets restated an "outperform" rating and set a $9.00 target price (up from $7.50) on shares of Dakota Gold in a report on Thursday, July 10th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Dakota Gold currently has an average rating of "Buy" and a consensus target price of $10.50.

Dakota Gold Trading Up 4.3%

The firm has a fifty day simple moving average of $4.43 and a two-hundred day simple moving average of $3.72. The firm has a market cap of $590.37 million, a PE ratio of -12.77 and a beta of 1.15.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers lifted its stake in shares of Dakota Gold by 3.1% in the 1st quarter. Rhumbline Advisers now owns 117,416 shares of the company's stock valued at $311,000 after purchasing an additional 3,543 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Dakota Gold by 109.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,070 shares of the company's stock valued at $26,000 after purchasing an additional 3,700 shares during the period. The Manufacturers Life Insurance Company raised its stake in Dakota Gold by 15.8% during the second quarter. The Manufacturers Life Insurance Company now owns 32,058 shares of the company's stock valued at $118,000 after buying an additional 4,377 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Dakota Gold by 120.5% during the second quarter. BNP Paribas Financial Markets now owns 8,309 shares of the company's stock valued at $31,000 after buying an additional 4,541 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its stake in Dakota Gold by 130.7% during the second quarter. Ameritas Investment Partners Inc. now owns 8,788 shares of the company's stock valued at $32,000 after buying an additional 4,978 shares during the last quarter. Hedge funds and other institutional investors own 37.41% of the company's stock.

About Dakota Gold

Dakota Gold Corp. engages in the acquisition, exploration, and development of mineral properties in the United States. It primarily explores for gold deposits. The company holds 100% interest in the Blind Gold, City Creek, Tinton, West Corridor, Ragged Top, Poorman Anticline, Maitland, South Lead/ Whistler Gulch, the Barrick Option, Richmond Hill and Homestake Paleoplacer Properties located in Homestake Mining District, South Dakota.

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