Dakota Gold (NYSE:DC) Trading Down 3.6% - Should You Sell?

Key Points

• Dakota Gold shares fell 3.6% on Monday, trading as low as $4.26 before closing at $4.34, with volume running below average at about 928,796 shares.
• Despite the pullback, analysts remain mostly bullish: four analysts rate the stock a Buy, one says Hold, and the consensus price target is $12.38, well above the current price.
• Insider activity has been mixed, with one director selling shares in May and another buying shares later that month; institutional investors still own 37.41% of the company.

Shares of Dakota Gold Corp. (NYSE:DC - Get Free Report) were down 3.6% during trading on Monday . The stock traded as low as $4.26 and last traded at $4.34. Approximately 928,796 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 1,654,613 shares. The stock had previously closed at $4.50.

Wall Street Analyst Weigh In

Several equities analysts have commented on DC shares. HC Wainwright reissued a "buy" rating and set a $10.50 target price on shares of Dakota Gold in a research report on Wednesday, April 22nd. Canaccord Genuity Group upped their target price on Dakota Gold from $16.00 to $18.00 and gave the company a "speculative buy" rating in a report on Tuesday, May 26th. Finally, Canadian Imperial Bank of Commerce initiated coverage on Dakota Gold in a research report on Tuesday, May 5th. They set an "outperform" rating and a $11.00 price target for the company. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $12.38.

Dakota Gold Stock Performance

The firm has a 50 day moving average price of $5.11 and a two-hundred day moving average price of $5.58. The company has a market cap of $581.25 million, a P/E ratio of -10.59 and a beta of 1.20.

Insiders Place Their Bets

In other news, Director Jennifer S. Grafton sold 15,511 shares of Dakota Gold stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.56, for a total value of $86,241.16. Following the completion of the transaction, the director directly owned 144,560 shares in the company, valued at approximately $803,753.60. The trade was a 9.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Todd J. Kenner acquired 17,921 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The shares were bought at an average cost of $5.60 per share, for a total transaction of $100,357.60. Following the acquisition, the director directly owned 17,921 shares in the company, valued at $100,357.60. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 8.50% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DC. Vanguard Group Inc. raised its holdings in shares of Dakota Gold by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,814,323 shares of the company's stock valued at $21,905,000 after acquiring an additional 41,992 shares in the last quarter. Euro Pacific Asset Management LLC grew its holdings in shares of Dakota Gold by 15.8% during the first quarter. Euro Pacific Asset Management LLC now owns 3,534,049 shares of the company's stock worth $18,103,000 after purchasing an additional 482,565 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Dakota Gold by 5.7% during the fourth quarter. Franklin Resources Inc. now owns 2,955,377 shares of the company's stock worth $16,787,000 after purchasing an additional 160,300 shares in the last quarter. Amundi increased its position in shares of Dakota Gold by 43.3% in the first quarter. Amundi now owns 2,150,000 shares of the company's stock worth $10,858,000 after purchasing an additional 650,000 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Dakota Gold by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 2,004,657 shares of the company's stock worth $11,389,000 after purchasing an additional 84,031 shares during the last quarter. 37.41% of the stock is owned by institutional investors.

About Dakota Gold

Dakota Gold Corp NYSE: DC is a mineral exploration and development company focused on advancing gold projects within the United States. The company’s primary asset is the historic Homestake District in South Dakota’s Black Hills, where it seeks to redevelop gold-bearing tailings and low‐grade ore volumes for open‐pit heap leach processing. Dakota Gold pursues a staged approach, combining exploration, resource delineation and economic studies to unlock value from legacy mine materials.

The firm’s flagship property comprises sealed tailings impoundments and adjacent low‐grade stockpiles left over from the Homestake Gold Mine, which operated from 1876 until 2002.

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