Dakota Gold (NYSE:DC) Stock Price Down 8.8% - What's Next?

Key Points

• Dakota Gold Corp.'s stock price dropped by 8.8% to $4.82, with trading volume decreasing by 7% from its average.
• BMO Capital Markets has upgraded its target price for Dakota Gold to $9.00, indicating analyst confidence despite the recent stock decline.
• Hedge funds have shown increased interest in Dakota Gold, with Trek Financial LLC boosting its stake by 853.7% in the first quarter.

Dakota Gold Corp. (NYSE:DC - Get Free Report)'s share price traded down 8.8% on Friday . The stock traded as low as $4.80 and last traded at $4.82. 640,352 shares were traded during trading, a decline of 7% from the average session volume of 691,455 shares. The stock had previously closed at $5.28.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets restated an "outperform" rating and set a $9.00 target price (up previously from $7.50) on shares of Dakota Gold in a research note on Thursday, July 10th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Dakota Gold has a consensus rating of "Buy" and a consensus target price of $10.50.

Dakota Gold Stock Performance

The stock has a market cap of $521.84 million, a P/E ratio of -11.35 and a beta of 1.15. The firm's 50 day moving average is $4.48 and its 200 day moving average is $3.75.

Hedge Funds Weigh In On Dakota Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DC. Trek Financial LLC lifted its holdings in Dakota Gold by 853.7% during the first quarter. Trek Financial LLC now owns 1,225,045 shares of the company's stock valued at $3,246,000 after purchasing an additional 1,096,590 shares in the last quarter. Amundi purchased a new stake in Dakota Gold during the 1st quarter valued at about $2,696,000. Donald Smith & CO. Inc. grew its stake in Dakota Gold by 254.1% during the 1st quarter. Donald Smith & CO. Inc. now owns 1,080,000 shares of the company's stock valued at $2,862,000 after acquiring an additional 775,000 shares in the last quarter. Vestcor Inc grew its stake in Dakota Gold by 36.5% during the 1st quarter. Vestcor Inc now owns 1,511,695 shares of the company's stock valued at $4,006,000 after acquiring an additional 404,065 shares in the last quarter. Finally, Euro Pacific Asset Management LLC grew its stake in Dakota Gold by 15.4% during the 3rd quarter. Euro Pacific Asset Management LLC now owns 2,677,080 shares of the company's stock valued at $12,171,000 after acquiring an additional 358,168 shares in the last quarter. 37.41% of the stock is owned by hedge funds and other institutional investors.

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.

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.