Dakota Gold (NYSE:DC) Sets New 12-Month High - Time to 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) reached a new 52-week high 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.

Analysts Set New Price Targets

DC has been the subject of a number of recent analyst reports. BMO Capital Markets reaffirmed an "outperform" rating and issued a $9.00 price objective (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 price objective on Dakota Gold in a research note on Tuesday, June 3rd. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Dakota Gold presently has an average rating of "Buy" and a consensus price target of $10.50.

Dakota Gold Stock Down 1.2%

The business has a 50 day moving average of $4.12 and a 200 day moving average of $3.46. The company has a market capitalization of $540.37 million, a P/E ratio of -11.73 and a beta of 1.13.

Hedge Funds Weigh In On Dakota Gold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its stake in Dakota Gold by 2.9% during the second quarter. Franklin Resources Inc. now owns 2,520,000 shares of the company's stock valued at $9,299,000 after buying an additional 70,000 shares during the last quarter. Euro Pacific Asset Management LLC raised its position in Dakota Gold by 15.6% during the second quarter. Euro Pacific Asset Management LLC now owns 2,318,912 shares of the company's stock valued at $8,585,000 after purchasing an additional 313,162 shares during the period. Geode Capital Management LLC raised its position in Dakota Gold by 20.6% during the second quarter. Geode Capital Management LLC now owns 1,850,272 shares of the company's stock valued at $6,829,000 after purchasing an additional 316,043 shares during the period. Vestcor Inc raised its position in Dakota Gold by 36.5% during the first quarter. Vestcor Inc now owns 1,511,695 shares of the company's stock valued at $4,006,000 after purchasing an additional 404,065 shares during the period. Finally, Trek Financial LLC raised its position in Dakota Gold by 9.6% during the second quarter. Trek Financial LLC now owns 1,342,641 shares of the company's stock valued at $4,954,000 after purchasing an additional 117,596 shares during the period. 37.41% of the stock is owned by institutional investors.

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.