Dakota Gold (NYSE:DC) Reaches New 1-Year High - What's Next?

Key Points

• Dakota Gold Corp. reached a new 52-week high of $5.15 during trading, with a last trade price of $5.00.
• Analysts from BMO Capital Markets upgraded their price target on Dakota Gold shares to $9.00, with a consensus rating of "Buy" and a target of $10.50.
• Institutional investors have significantly increased their holdings, with Nisa Investment Advisors LLC raising theirs by 109.8% during the 2nd quarter, indicating growing confidence in the stock.

Dakota Gold Corp. (NYSE:DC - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $5.15 and last traded at $5.00, with a volume of 142569 shares trading hands. The stock had previously closed at $5.03.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets reiterated an "outperform" rating and issued a $9.00 price objective (up previously from $7.50) on shares of Dakota Gold in a report on Thursday, July 10th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $10.50.

Dakota Gold Stock Performance

The company's 50-day moving average price is $4.34 and its 200 day moving average price is $3.66. The stock has a market capitalization of $541.50 million, a P/E ratio of -11.76 and a beta of 1.15.

Institutional Investors Weigh In On Dakota Gold

Several institutional investors and hedge funds have recently modified their holdings of DC. Nisa Investment Advisors LLC increased its holdings in 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 acquiring an additional 3,700 shares during the last quarter. BNP Paribas Financial Markets raised its position 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 valued at $31,000 after buying an additional 4,541 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Dakota Gold by 130.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,788 shares of the company's stock valued at $32,000 after acquiring an additional 4,978 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of Dakota Gold in the 1st quarter valued at about $52,000. Finally, Los Angeles Capital Management LLC purchased a new position in Dakota Gold in the second quarter worth about $59,000. 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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