Anson Funds Management LP Acquires Shares of 175,000 Dakota Gold Corp. $DC

Key Points

• Anson Funds Management LP acquired 175,000 shares of Dakota Gold Corp., valued at approximately $464,000, representing about 0.18% of the company's total shares as per its recent SEC filing.
• Due to recent transactions, Dakota Gold has seen a significant increase in institutional investment, with hedge funds and other institutional investors now owning 37.41% of the company.
• Equities research analysts have a positive outlook on Dakota Gold, with an average rating of "Buy" and a consensus target price of $10.50.

Anson Funds Management LP bought a new position in Dakota Gold Corp. (NYSE:DC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 175,000 shares of the company's stock, valued at approximately $464,000. Anson Funds Management LP owned 0.18% of Dakota Gold at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in Dakota Gold by 109.2% during the 4th quarter. JPMorgan Chase & Co. now owns 261,602 shares of the company's stock valued at $576,000 after purchasing an additional 136,565 shares during the period. Geode Capital Management LLC raised its stake in Dakota Gold by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 1,473,599 shares of the company's stock valued at $3,243,000 after purchasing an additional 15,046 shares during the period. Wells Fargo & Company MN increased its stake in shares of Dakota Gold by 28.0% in the fourth quarter. Wells Fargo & Company MN now owns 51,129 shares of the company's stock worth $112,000 after acquiring an additional 11,185 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Dakota Gold by 566.8% in the fourth quarter. Renaissance Technologies LLC now owns 556,107 shares of the company's stock worth $1,223,000 after acquiring an additional 472,707 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of Dakota Gold by 16.1% in the fourth quarter. Barclays PLC now owns 108,709 shares of the company's stock worth $239,000 after acquiring an additional 15,042 shares during the last quarter. Institutional investors own 37.41% of the company's stock.

Dakota Gold Stock Performance

Shares of NYSE DC traded up $0.04 during mid-day trading on Friday, hitting $4.18. 221,640 shares of the stock were exchanged, compared to its average volume of 564,441. The company has a market cap of $470.05 million, a P/E ratio of -10.18 and a beta of 1.12. The stock's fifty day simple moving average is $3.97 and its two-hundred day simple moving average is $3.35. Dakota Gold Corp. has a twelve month low of $2.05 and a twelve month high of $4.47.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. BMO Capital Markets reaffirmed an "outperform" rating and issued a $9.00 price target (up from $7.50) on shares of Dakota Gold in a research note on Thursday, July 10th. Canaccord Genuity Group set a $12.00 target price on shares of Dakota Gold in a research report on Tuesday, June 3rd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $10.50.

Dakota Gold 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.