Amundi Makes New Investment in Dakota Gold Corp. $DC

Key Points

• Amundi acquired a new stake in Dakota Gold Corp. by purchasing 1,025,000 shares, making its total ownership approximately 1.03% of the company's stock.
• Several institutional investors increased their stakes in Dakota Gold during the fourth quarter, with Two Sigma Investments LP leading with a 348.7% increase.
• Research analysts have set a consensus rating of "Buy" for Dakota Gold, with target prices ranging from $9.00 to $12.00.

Amundi bought a new position in shares of Dakota Gold Corp. (NYSE:DC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,025,000 shares of the company's stock, valued at approximately $2,696,000. Amundi owned approximately 1.03% of Dakota Gold as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of DC. Trek Financial LLC raised its stake in Dakota Gold by 853.7% in the 1st quarter. Trek Financial LLC now owns 1,225,045 shares of the company's stock worth $3,246,000 after purchasing an additional 1,096,590 shares in the last quarter. Donald Smith & CO. Inc. raised its position in shares of Dakota Gold by 254.1% in the first 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 in the last quarter. Vestcor Inc raised its position in shares of Dakota Gold by 36.5% in the first 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 in the last quarter. Nuveen LLC acquired a new stake in shares of Dakota Gold in the first quarter valued at approximately $738,000. Finally, Anson Funds Management LP acquired a new stake in shares of Dakota Gold in the first quarter valued at approximately $464,000. Institutional investors and hedge funds own 37.41% of the company's stock.

Dakota Gold Price Performance

DC traded up $0.01 during trading on Wednesday, hitting $4.49. 1,275,578 shares of the stock traded hands, compared to its average volume of 628,892. Dakota Gold Corp. has a twelve month low of $2.05 and a twelve month high of $5.15. The company has a market cap of $504.42 million, a price-to-earnings ratio of -10.95 and a beta of 1.13. The business has a 50 day moving average price of $4.16 and a 200 day moving average price of $3.48.

Analyst Ratings Changes

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

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.