Dakota Gold (NYSE:DC) Shares Up 1.8% - What's Next?

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.

Shares of Dakota Gold Corp. (NYSE:DC - Get Free Report) rose 1.8% during trading on Tuesday . The stock traded as high as $3.88 and last traded at $3.86. Approximately 617,634 shares were traded during mid-day trading, an increase of 9% from the average daily volume of 568,594 shares. The stock had previously closed at $3.79.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DC. Canaccord Genuity Group set a $12.00 target price on shares of Dakota Gold in a research report on Tuesday, June 3rd. 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 research report on Thursday, July 10th.

Dakota Gold Stock Performance

The company has a fifty day moving average of $3.77 and a two-hundred day moving average of $3.12. The company has a market cap of $410.92 million, a PE ratio of -8.93 and a beta of 1.12.

Institutional Trading of Dakota Gold

Several large investors have recently made changes to their positions in the company. ProShare Advisors LLC increased its stake in Dakota Gold by 54.5% in the 4th quarter. ProShare Advisors LLC now owns 19,735 shares of the company's stock valued at $43,000 after buying an additional 6,965 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of Dakota Gold in the 1st quarter worth about $52,000. Price T Rowe Associates Inc. MD boosted its position in shares of Dakota Gold by 29.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 28,317 shares of the company's stock worth $63,000 after buying an additional 6,416 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Dakota Gold in the 4th quarter worth about $64,000. Finally, Millennium Management LLC boosted its position in shares of Dakota Gold by 87.4% in the 4th quarter. Millennium Management LLC now owns 31,717 shares of the company's stock worth $70,000 after buying an additional 14,790 shares in the last quarter. 37.41% of the stock is currently 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.