Dakota Gold Corp. $DC Shares Sold by Vestcor Inc

Key Points

• Vestcor Inc. reduced its stake in Dakota Gold by 57.1% during Q3, selling 714,240 shares and leaving it with 536,030 shares worth about $2.44 million (≈0.48% of the company).
• Company insiders sold a total of 338,595 shares (~$2.30 million) over the last quarter, including CEO Robert Quartermain's sale of 250,000 shares at $6.88 and VP James M. Berry's sale of 12,388 shares at $7.02.
• Analysts are generally positive—three Buys and one Hold give an average rating of "Moderate Buy" with an average target of $10.19—while the stock trades around $6.30 and the company has a market cap of about $732 million.

Vestcor Inc lowered its holdings in shares of Dakota Gold Corp. (NYSE:DC - Free Report) by 57.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 536,030 shares of the company's stock after selling 714,240 shares during the quarter. Vestcor Inc owned approximately 0.48% of Dakota Gold worth $2,439,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DC. BNP Paribas Financial Markets increased its holdings in Dakota Gold by 120.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 8,309 shares of the company's stock worth $31,000 after acquiring an additional 4,541 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of Dakota Gold by 130.7% during the second quarter. Ameritas Investment Partners Inc. now owns 8,788 shares of the company's stock worth $32,000 after purchasing an additional 4,978 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Dakota Gold during the 3rd quarter worth about $46,000. Los Angeles Capital Management LLC purchased a new position in Dakota Gold in the 2nd quarter valued at about $59,000. Finally, Avantax Planning Partners Inc. acquired a new stake in Dakota Gold in the 3rd quarter worth about $62,000. Hedge funds and other institutional investors own 37.41% of the company's stock.

Insider Buying and Selling

In related news, VP James Mccoy Berry sold 12,388 shares of the firm's stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $7.02, for a total value of $86,963.76. Following the completion of the sale, the vice president owned 371,748 shares in the company, valued at $2,609,670.96. This trade represents a 3.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert Quartermain sold 250,000 shares of the company's stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $6.88, for a total transaction of $1,720,000.00. Following the completion of the sale, the chief executive officer directly owned 7,493,244 shares in the company, valued at $51,553,518.72. This trade represents a 3.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 338,595 shares of company stock valued at $2,302,337 over the last quarter. Company insiders own 17.40% of the company's stock.

Dakota Gold Trading Up 5.7%

Shares of Dakota Gold stock opened at $6.30 on Wednesday. The company has a fifty day simple moving average of $6.18 and a 200-day simple moving average of $5.23. Dakota Gold Corp. has a 12-month low of $2.40 and a 12-month high of $7.25. The stock has a market cap of $731.80 million, a price-to-earnings ratio of -15.37 and a beta of 1.03.

Wall Street Analyst Weigh In

DC has been the topic of several research reports. HC Wainwright initiated coverage on Dakota Gold in a research report on Monday, January 5th. They issued a "buy" rating and a $9.75 target price on the stock. Scotiabank started coverage on shares of Dakota Gold in a research note on Monday, February 23rd. They issued a "sector outperform" rating and a $10.00 price target on the stock. Finally, Zacks Research raised shares of Dakota Gold to a "hold" rating in a research note on Tuesday, January 6th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Dakota Gold currently has an average rating of "Moderate Buy" and an average target price of $10.19.

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.

Want to see what other hedge funds are holding DC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dakota Gold Corp. (NYSE:DC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.