Dakota Gold Corp. $DC Stock Position Boosted by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its Dakota Gold stake by 142.1% in the first quarter, owning 601,889 shares worth about $3.04 million. Institutional investors collectively hold 37.41% of the company.
• Insider activity was mixed: Director Todd Kenner bought 17,921 shares at $5.60 each, while Director Jennifer Grafton sold 15,511 shares under a pre-arranged Rule 10b5-1 plan. Insiders own 8.50% of Dakota Gold.
• Dakota Gold shares opened at $6.00, up 8.7%, while analysts maintained a positive outlook with a “Moderate Buy” consensus and an average price target of $12.44.

Renaissance Technologies LLC grew its stake in shares of Dakota Gold Corp. (NYSE:DC - Free Report) by 142.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 601,889 shares of the company's stock after buying an additional 353,289 shares during the quarter. Renaissance Technologies LLC owned about 0.45% of Dakota Gold worth $3,040,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Brookstone Capital Management raised its holdings in Dakota Gold by 19.5% during the first quarter. Brookstone Capital Management now owns 15,950 shares of the company's stock worth $81,000 after purchasing an additional 2,600 shares in the last quarter. LPL Financial LLC boosted its stake in Dakota Gold by 2.6% during the 4th quarter. LPL Financial LLC now owns 128,407 shares of the company's stock valued at $729,000 after purchasing an additional 3,224 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Dakota Gold by 4.9% during the 4th quarter. AQR Capital Management LLC now owns 75,001 shares of the company's stock valued at $426,000 after purchasing an additional 3,498 shares during the period. Steward Partners Investment Advisory LLC increased its position in shares of Dakota Gold by 105.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,203 shares of the company's stock valued at $41,000 after purchasing an additional 3,703 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Dakota Gold by 15.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,058 shares of the company's stock worth $118,000 after buying an additional 4,377 shares in the last quarter. 37.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Todd J. Kenner acquired 17,921 shares of the business's stock in a transaction on Thursday, May 28th. The shares were purchased at an average price of $5.60 per share, for a total transaction of $100,357.60. Following the acquisition, the director owned 17,921 shares in the company, valued at approximately $100,357.60. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jennifer S. Grafton sold 15,511 shares of the business's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.56, for a total value of $86,241.16. Following the sale, the director owned 144,560 shares in the company, valued at approximately $803,753.60. The trade was a 9.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.50% of the stock is owned by insiders.

Dakota Gold Stock Up 8.7%

DC opened at $6.00 on Friday. The firm has a market cap of $803.57 million, a PE ratio of -14.63 and a beta of 1.19. The business has a fifty day simple moving average of $4.73 and a 200-day simple moving average of $5.43. Dakota Gold Corp. has a fifty-two week low of $3.74 and a fifty-two week high of $7.25.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Canaccord Genuity Group upped their price objective on Dakota Gold from $16.00 to $18.00 and gave the company a "speculative buy" rating in a report on Tuesday, May 26th. HC Wainwright boosted their price target on shares of 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 assumed coverage on shares of Dakota Gold in a research report on Tuesday, May 5th. They set an "outperform" rating and a $11.00 price objective for the company. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $12.44.

Dakota Gold 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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