Dakota Gold (NYSE:DC) Hits New 52-Week High - Here's What Happened

Key Points

• Dakota Gold Corp. shares reached a new 52-week high of $4.55, trading at $4.50 with a volume of 383,328 shares.
• Wall Street analysts are optimistic, with BMO Capital Markets setting a target price of $9.00 and Canaccord Genuity at $12.00, contributing to a consensus rating of "Buy" and a target price of $10.50.
• Several institutional investors have increased their holdings in Dakota Gold, with Franklin Resources Inc. boosting its stake by 2.9% and Euro Pacific Asset Management increasing by 15.6% in Q2.

Dakota Gold Corp. (NYSE:DC - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $4.55 and last traded at $4.50, with a volume of 383328 shares trading hands. The stock had previously closed at $4.33.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DC. BMO Capital Markets restated an "outperform" rating and issued a $9.00 target price (up previously from $7.50) on shares of Dakota Gold in a research note on Thursday, July 10th. Canaccord Genuity Group set a $12.00 target price on Dakota Gold in a research note on Tuesday, June 3rd. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Dakota Gold currently has a consensus rating of "Buy" and a consensus target price of $10.50.

Dakota Gold Stock Up 5.7%

The company has a market cap of $513.97 million, a P/E ratio of -11.16 and a beta of 1.13. The firm has a 50 day moving average of $3.99 and a 200-day moving average of $3.38.

Institutional Trading of Dakota Gold

Several hedge funds and other institutional investors have recently made changes to their positions in DC. Franklin Resources Inc. grew its position in shares of Dakota Gold by 2.9% during the 2nd quarter. Franklin Resources Inc. now owns 2,520,000 shares of the company's stock valued at $9,299,000 after acquiring an additional 70,000 shares during the period. Euro Pacific Asset Management LLC boosted its holdings in Dakota Gold by 15.6% in the 2nd quarter. Euro Pacific Asset Management LLC now owns 2,318,912 shares of the company's stock worth $8,585,000 after buying an additional 313,162 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Dakota Gold by 20.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,850,272 shares of the company's stock worth $6,829,000 after buying an additional 316,043 shares during the last quarter. Vestcor Inc boosted its holdings in Dakota Gold by 36.5% in the 1st quarter. Vestcor Inc now owns 1,511,695 shares of the company's stock worth $4,006,000 after buying an additional 404,065 shares during the last quarter. Finally, Trek Financial LLC boosted its holdings in Dakota Gold by 9.6% in the 2nd quarter. Trek Financial LLC now owns 1,342,641 shares of the company's stock worth $4,954,000 after buying an additional 117,596 shares during the last quarter. Hedge funds and other institutional investors own 37.41% of the company's stock.

Dakota Gold Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.