Fourth Sail Capital LP Trims Stake in Dakota Gold Corp. (NYSE:DC)

Key Points

• Fourth Sail Capital LP significantly reduced its stake in Dakota Gold Corp. by 96.9%, now holding only 169,965 shares valued at approximately $450,000.
• Other institutional investors, such as Vestcor Inc and Trek Financial LLC, increased their holdings in Dakota Gold, demonstrating shifting investor interest in the company.
• Dakota Gold's stock price has risen by 5.1%, trading at $3.95, with a market cap of $443.48 million and analysts predicting potential target prices up to $12.00.

Fourth Sail Capital LP lessened its holdings in shares of Dakota Gold Corp. (NYSE:DC - Free Report) by 96.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 169,965 shares of the company's stock after selling 5,250,001 shares during the period. Dakota Gold makes up about 0.1% of Fourth Sail Capital LP's portfolio, making the stock its 28th biggest holding. Fourth Sail Capital LP owned about 0.17% of Dakota Gold worth $450,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Dakota Gold by 109.2% during the 4th quarter. JPMorgan Chase & Co. now owns 261,602 shares of the company's stock worth $576,000 after purchasing an additional 136,565 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Dakota Gold by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 1,473,599 shares of the company's stock worth $3,243,000 after buying an additional 15,046 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Dakota Gold by 28.0% during the fourth quarter. Wells Fargo & Company MN now owns 51,129 shares of the company's stock valued at $112,000 after buying an additional 11,185 shares during the last quarter. Trek Financial LLC acquired a new position in shares of Dakota Gold in the 4th quarter valued at $283,000. Finally, Renaissance Technologies LLC increased its position in shares of Dakota Gold by 566.8% in the 4th quarter. Renaissance Technologies LLC now owns 556,107 shares of the company's stock valued at $1,223,000 after acquiring an additional 472,707 shares during the period. Institutional investors and hedge funds own 37.41% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on DC shares. Canaccord Genuity Group set a $12.00 price target on Dakota Gold in a research report on Tuesday, June 3rd. BMO Capital Markets reaffirmed an "outperform" rating and set a $9.00 target price (up previously from $7.50) on shares of Dakota Gold in a report on Thursday, July 10th.

Dakota Gold Trading Up 1.7%

NYSE DC traded up $0.07 on Friday, hitting $4.08. 675,502 shares of the company's stock traded hands, compared to its average volume of 572,531. The firm's 50-day moving average price is $3.88 and its two-hundred day moving average price is $3.19. The firm has a market capitalization of $458.07 million, a PE ratio of -9.95 and a beta of 1.12. Dakota Gold Corp. has a 1-year low of $1.87 and a 1-year high of $4.47.

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.