Dakota Gold Corp. $DC Shares Sold by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group cut its Dakota Gold position by 76.8% in the second quarter, selling 960,570 shares and retaining 289,430 shares worth approximately $1.23 million.
• Other major investors increased their holdings, including Royal Bank of Canada, Renaissance Technologies, Euro Pacific Asset Management, and Amundi. Institutional investors and hedge funds collectively own 37.41% of Dakota Gold.
• Dakota Gold shares opened at $5.81, within a 52-week range of $3.79 to $7.25. Analysts maintain a “Moderate Buy” consensus, with an average price target of $12.44.

Alyeska Investment Group L.P. lowered its position in Dakota Gold Corp. (NYSE:DC - Free Report) by 76.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 289,430 shares of the company's stock after selling 960,570 shares during the quarter. Alyeska Investment Group L.P. owned approximately 0.22% of Dakota Gold worth $1,233,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of DC. Royal Bank of Canada grew its holdings 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 last quarter. Donald Smith & CO. Inc. acquired a new stake in Dakota Gold during the 2nd quarter worth approximately $4,601,000. Renaissance Technologies LLC grew its stake in shares of Dakota Gold by 142.1% in the 1st quarter. Renaissance Technologies LLC now owns 601,889 shares of the company's stock valued at $3,040,000 after purchasing an additional 353,289 shares during the last quarter. Euro Pacific Asset Management LLC grew its stake in shares of Dakota Gold by 15.8% in the 1st quarter. Euro Pacific Asset Management LLC now owns 3,534,049 shares of the company's stock valued at $18,103,000 after purchasing an additional 482,565 shares during the last quarter. Finally, Amundi increased its holdings in shares of Dakota Gold by 43.3% in the first quarter. Amundi now owns 2,150,000 shares of the company's stock valued at $10,858,000 after purchasing an additional 650,000 shares during the period. 37.41% of the stock is owned by institutional investors and hedge funds.

Dakota Gold Stock Performance

Dakota Gold stock opened at $5.81 on Wednesday. The firm has a market capitalization of $779.55 million, a price-to-earnings ratio of -14.17 and a beta of 1.19. Dakota Gold Corp. has a fifty-two week low of $3.79 and a fifty-two week high of $7.25. The stock's fifty day moving average is $5.09 and its two-hundred day moving average is $5.40.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Canaccord Genuity Group raised their price objective on shares of 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 target price on Dakota Gold from $10.50 to $10.75 and gave the stock a "buy" rating in a research report on Thursday, July 16th. Finally, Canadian Imperial Bank of Commerce began coverage on Dakota Gold in a research report on Tuesday, May 5th. They set an "outperform" rating and a $11.00 target price on the stock. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Dakota Gold has an average rating of "Moderate Buy" and a consensus price target of $12.44.

Dakota Gold Company Profile

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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