Dakota Gold (NYSE:DC) Trading Up 5.4% - What's Next?

Key Points

• Dakota Gold Corp. shares rose by 5.4% on Friday, trading at $4.82, following a previous close of $4.57, with a trading volume increase of 2% compared to average sessions.
• Analysts are generally bullish on Dakota Gold, with BMO Capital Markets upgrading their target price from $7.50 to $9.00 and Canaccord Genuity setting a target of $12.00, leading to an average target price of $10.50.
• Institutional investors hold 37.41% of Dakota Gold shares, with notable purchases from firms like Amundi and Bank of America, indicating growing institutional interest in the company.

Dakota Gold Corp. (NYSE:DC - Get Free Report) shot up 5.4% on Friday . The company traded as high as $4.83 and last traded at $4.82. 643,294 shares traded hands during trading, an increase of 2% from the average session volume of 629,386 shares. The stock had previously closed at $4.57.

Analyst Ratings Changes

DC has been the topic of a number of analyst reports. BMO Capital Markets reaffirmed an "outperform" rating and set a $9.00 target price (up previously from $7.50) on shares of Dakota Gold in a report on Thursday, July 10th. Canaccord Genuity Group set a $12.00 target price on Dakota Gold in a report on Tuesday, June 3rd. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Dakota Gold presently has an average rating of "Buy" and a consensus target price of $10.50.

Dakota Gold Stock Performance

The company has a 50-day moving average price of $4.17 and a 200-day moving average price of $3.50. The firm has a market capitalization of $537.57 million, a P/E ratio of -11.70 and a beta of 1.13.

Hedge Funds Weigh In On Dakota Gold

Institutional investors have recently bought and sold shares of the stock. Amundi purchased a new position in shares of Dakota Gold during the 1st quarter valued at $2,696,000. Anson Funds Management LP acquired a new stake in shares of Dakota Gold in the first quarter valued at about $464,000. Bank of America Corp DE boosted its stake in shares of Dakota Gold by 54.7% in the fourth quarter. Bank of America Corp DE now owns 55,912 shares of the company's stock valued at $123,000 after purchasing an additional 19,760 shares during the period. Two Sigma Investments LP lifted its position in shares of Dakota Gold by 348.7% during the 4th quarter. Two Sigma Investments LP now owns 116,429 shares of the company's stock worth $256,000 after buying an additional 90,483 shares during the last quarter. Finally, American Century Companies Inc. acquired a new position in shares of Dakota Gold during the 1st quarter worth $169,000. 37.41% of the stock is owned by 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.

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