Dakota Gold (NYSE:DC) Sets New 52-Week High - Should You Buy?

Key Points

• Dakota Gold Corp. has reached a new 52-week high, trading as high as $4.66, with a closing price of $4.59 and nearly 1 million shares traded.
• Equities research analysts have set a target price of $12.00 from Canaccord Genuity and $9.00 from BMO Capital Markets, with a consensus rating of "Buy."
• Institutional investors have increased their stakes in Dakota Gold, with Bank of America boosting its stake by 54.7% and Two Sigma Investments by 348.7% in the last quarter.

Dakota Gold Corp. (NYSE:DC - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $4.66 and last traded at $4.59, with a volume of 995989 shares traded. The stock had previously closed at $4.44.

Wall Street Analyst Weigh In

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

Dakota Gold Stock Performance

The business's 50 day moving average is $4.05 and its 200-day moving average is $3.41. The stock has a market cap of $515.66 million, a price-to-earnings ratio of -11.20 and a beta of 1.13.

Institutional Investors Weigh In On Dakota Gold

Institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its stake in Dakota Gold by 54.7% in the 4th quarter. Bank of America Corp DE now owns 55,912 shares of the company's stock valued at $123,000 after acquiring an additional 19,760 shares during the period. Two Sigma Investments LP boosted its stake in Dakota Gold by 348.7% during the 4th quarter. Two Sigma Investments LP now owns 116,429 shares of the company's stock worth $256,000 after purchasing an additional 90,483 shares during the last quarter. Squarepoint Ops LLC boosted its stake in Dakota Gold by 122.1% during the 4th quarter. Squarepoint Ops LLC now owns 116,128 shares of the company's stock worth $255,000 after purchasing an additional 63,830 shares during the last quarter. Millennium Management LLC boosted its stake in Dakota Gold by 87.4% during the 4th quarter. Millennium Management LLC now owns 31,717 shares of the company's stock worth $70,000 after purchasing an additional 14,790 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in Dakota Gold during the 1st quarter worth $738,000. Institutional investors and hedge funds 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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