Dakota Gold (NYSE:DC) Shares Down 5.4% - What's Next?

Key Points

• Dakota Gold shares experienced a decline of 5.4% on Tuesday, trading at approximately $4.64, compared to a previous close of $4.90.
• Brokerages like Canaccord Genuity and BMO Capital Markets have set price targets for Dakota Gold at $12.00 and $9.00 respectively, indicating a positive outlook for the stock.
• Institutional investors and hedge funds own approximately 37.41% of Dakota Gold's stock, with significant recent purchases from firms like Franklin Resources and Euro Pacific Asset Management.

Dakota Gold Corp. (NYSE:DC - Get Free Report) shares fell 5.4% on Tuesday . The stock traded as low as $4.63 and last traded at $4.64. 577,776 shares changed hands during trading, a decline of 6% from the average session volume of 617,765 shares. The stock had previously closed at $4.90.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DC. Canaccord Genuity Group set a $12.00 target price on Dakota Gold in a research report on Tuesday, June 3rd. BMO Capital Markets restated an "outperform" rating and set a $9.00 price objective (up previously 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, the stock currently has a consensus rating of "Buy" and an average price target of $10.50.

Dakota Gold Trading Down 8.1%

The business's 50-day simple moving average is $4.14 and its 200-day simple moving average is $3.47. The company has a market cap of $506.11 million, a PE ratio of -11.01 and a beta of 1.13.

Hedge Funds Weigh In On Dakota Gold

Hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. boosted its stake in 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 purchasing an additional 70,000 shares during the period. Euro Pacific Asset Management LLC raised its stake in Dakota Gold by 15.6% during the 2nd 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 last quarter. Geode Capital Management LLC grew its position 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 purchasing an additional 316,043 shares during the last quarter. Vestcor Inc raised its position in shares of 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 buying an additional 404,065 shares during the last quarter. Finally, Trek Financial LLC raised 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 valued at $4,954,000 after acquiring an additional 117,596 shares in the last quarter. 37.41% of the stock is owned by institutional investors and hedge funds.

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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