Insider Selling: Dakota Gold (NYSE:DC) Director Sells 50,000 Shares of Stock

Key Points

• Stephen O'rourke, a director at Dakota Gold Corp., sold 50,000 shares of the company's stock at an average price of $4.66 for a total of $233,000, reducing his ownership by 5.16%.
• Despite the insider sale, Dakota Gold's stock price increased by 3.7% to $4.80 during trading on October 20, with a trading volume of over 1.1 million shares.
• BMO Capital Markets has upgraded its target price for Dakota Gold shares to $9.00, with the stock currently holding an average rating of "Buy" and a higher target price of $10.50 from analysts.

Dakota Gold Corp. (NYSE:DC - Get Free Report) Director Stephen O'rourke sold 50,000 shares of the stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $4.66, for a total transaction of $233,000.00. Following the completion of the transaction, the director owned 918,199 shares in the company, valued at $4,278,807.34. The trade was a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Dakota Gold Stock Up 3.7%

DC traded up $0.17 during trading on Monday, hitting $4.80. The company's stock had a trading volume of 1,188,254 shares, compared to its average volume of 703,346. Dakota Gold Corp. has a one year low of $2.05 and a one year high of $5.51. The firm has a market cap of $539.25 million, a PE ratio of -11.71 and a beta of 1.15. The business's 50 day simple moving average is $4.49 and its 200-day simple moving average is $3.78.

Analyst Ratings Changes

Separately, BMO Capital Markets reaffirmed an "outperform" rating and set a $9.00 target price (up from $7.50) on shares of Dakota Gold in a research note on Thursday, July 10th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Dakota Gold has an average rating of "Buy" and an average target price of $10.50.

Hedge Funds Weigh In On Dakota Gold

Large investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its stake in shares of Dakota Gold by 109.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,070 shares of the company's stock worth $26,000 after purchasing an additional 3,700 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Dakota Gold by 120.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 8,309 shares of the company's stock worth $31,000 after purchasing an additional 4,541 shares during the period. Ameritas Investment Partners Inc. boosted its stake in shares of Dakota Gold by 130.7% during the 2nd 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 during the period. Los Angeles Capital Management LLC purchased a new position in shares of Dakota Gold during the 2nd quarter worth about $59,000. Finally, Qube Research & Technologies Ltd purchased a new stake in Dakota Gold in the 2nd quarter valued at about $64,000. 37.41% of the stock is owned by hedge funds and other institutional investors.

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.

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