Dakota Gold (NYSE:DC) Shares Up 1.8% - Here's What Happened

Key Points

• Dakota Gold Corp.'s stock price increased by 1.8%, closing at $3.86, with trading volume rising by 9% compared to the daily average.
• Analysts have provided optimistic price targets, with BMO Capital Markets setting a new objective of $9.00, up from $7.50, while Canaccord Genuity targets $12.00.
• Institutional investors and hedge funds now own 37.41% of Dakota Gold's stock, with several firms increasing their stakes in recent quarters.

Dakota Gold Corp. (NYSE:DC - Get Free Report) shot up 1.8% on Tuesday . The company traded as high as $3.88 and last traded at $3.86. 617,634 shares changed hands during trading, an increase of 9% from the average session volume of 568,594 shares. The stock had previously closed at $3.79.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DC. BMO Capital Markets reiterated an "outperform" rating and set a $9.00 price target (up from $7.50) on shares of Dakota Gold in a report on Thursday, July 10th. Canaccord Genuity Group set a $12.00 price target on Dakota Gold in a report on Tuesday, June 3rd.

Dakota Gold Stock Performance

The company has a 50 day moving average of $3.81 and a 200-day moving average of $3.14. The stock has a market cap of $405.31 million, a price-to-earnings ratio of -8.80 and a beta of 1.12.

Hedge Funds Weigh In On Dakota Gold

Several hedge funds have recently bought and sold shares of the company. Trek Financial LLC boosted its stake in shares of Dakota Gold by 853.7% in the 1st quarter. Trek Financial LLC now owns 1,225,045 shares of the company's stock valued at $3,246,000 after buying an additional 1,096,590 shares during the period. Amundi purchased a new position in shares of Dakota Gold in the 1st quarter valued at about $2,696,000. Donald Smith & CO. Inc. boosted its stake in shares of Dakota Gold by 254.1% in the 1st quarter. Donald Smith & CO. Inc. now owns 1,080,000 shares of the company's stock valued at $2,862,000 after buying an additional 775,000 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Dakota Gold by 566.8% in the 4th quarter. Renaissance Technologies LLC now owns 556,107 shares of the company's stock valued at $1,223,000 after buying an additional 472,707 shares during the period. Finally, Vestcor Inc boosted its stake in shares of Dakota Gold by 36.5% in the 1st 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 period. Institutional investors and hedge funds own 37.41% of the company's stock.

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.