Bank of New York Mellon Corp Takes $1.17 Million Position in Dakota Gold Corp. $DC

Key Points

• Bank of New York Mellon purchased 274,301 Dakota Gold shares worth approximately $1.17 million, representing about 0.20% of the company. Institutional investors collectively own 37.41% of Dakota Gold.
• Several major investors increased their positions, including Royal Bank of Canada and Invesco, while analysts maintained a favorable outlook. Dakota Gold has a “Moderate Buy” consensus rating and an average price target of $12.44.
• Dakota Gold shares opened at $5.95, with a market capitalization of approximately $798 million; the company is focused on developing gold projects in South Dakota’s historic Homestake District.

Bank of New York Mellon Corp purchased a new position in shares of Dakota Gold Corp. (NYSE:DC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 274,301 shares of the company's stock, valued at approximately $1,169,000. Bank of New York Mellon Corp owned about 0.20% of Dakota Gold as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Groupe la Francaise boosted its stake in Dakota Gold by 154.5% during the 1st quarter. Groupe la Francaise now owns 1,400,000 shares of the company's stock valued at $7,041,000 after purchasing an additional 850,000 shares during the period. Amundi raised its holdings in shares of Dakota Gold by 43.3% during the first quarter. Amundi now owns 2,150,000 shares of the company's stock valued at $10,858,000 after buying an additional 650,000 shares during the last quarter. Global Strategic Management Inc. bought a new stake in shares of Dakota Gold during the fourth quarter valued at approximately $3,094,000. Royal Bank of Canada boosted its position in shares of Dakota Gold by 704.6% during the first quarter. Royal Bank of Canada now owns 574,105 shares of the company's stock worth $2,899,000 after buying an additional 502,754 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Dakota Gold by 890.0% during the fourth quarter. Invesco Ltd. now owns 542,712 shares of the company's stock worth $3,083,000 after buying an additional 487,891 shares during the period. Institutional investors and hedge funds own 37.41% of the company's stock.

Analyst Ratings Changes

DC has been the topic of several analyst reports. Canaccord Genuity Group raised their target price on Dakota Gold from $16.00 to $18.00 and gave the company a "speculative buy" rating in a research report on Tuesday, May 26th. HC Wainwright boosted their price target on Dakota Gold from $10.50 to $10.75 and gave the stock a "buy" rating in a research report on Thursday, July 16th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $12.44.

Dakota Gold Stock Down 0.5%

Shares of DC stock opened at $5.95 on Thursday. The stock has a 50-day simple moving average of $5.31 and a 200 day simple moving average of $5.41. The stock has a market capitalization of $798.33 million, a P/E ratio of -14.51 and a beta of 1.23. Dakota Gold Corp. has a fifty-two week low of $3.79 and a fifty-two week high of $7.25.

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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