Dakota Gold (NYSE:DC) Stock Sees Unusually High Call Option Buying

Key Points

• Dakota Gold saw unusually heavy call-option activity on Wednesday, with 3,562 calls traded—about 337% above its average daily volume of 815 contracts.
• Institutional ownership stands at 37.41%, following new or expanded positions from BlackRock, Donald Smith & Co., Groupe la Française, Connor Clark & Lunn, and Amundi.
• Analyst sentiment remains positive: four analysts rate the stock Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average price target of $12.44. Shares nevertheless fell 1.0% to $6.14.

Dakota Gold Corp. (NYSE:DC - Get Free Report) saw unusually large options trading on Wednesday. Investors bought 3,562 call options on the company. This represents an increase of approximately 337% compared to the average daily volume of 815 call options.

Institutional Trading of Dakota Gold

Several hedge funds and other institutional investors have recently modified their holdings of DC. BlackRock Inc. acquired a new stake in Dakota Gold in the 2nd quarter valued at $37,299,000. Donald Smith & CO. Inc. acquired a new position in Dakota Gold during the second quarter valued at approximately $4,601,000. Groupe la Francaise grew its stake in Dakota Gold by 154.5% in the first quarter. Groupe la Francaise now owns 1,400,000 shares of the company's stock valued at $7,041,000 after purchasing an additional 850,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Dakota Gold in the second quarter valued at approximately $2,821,000. Finally, Amundi increased its position in shares of Dakota Gold by 43.3% during the 1st quarter. Amundi now owns 2,150,000 shares of the company's stock worth $10,858,000 after purchasing an additional 650,000 shares during the last quarter. Institutional investors and hedge funds own 37.41% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a "buy" rating and set a $10.75 target price on shares of Dakota Gold in a research report on Wednesday. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $12.44.

Dakota Gold Trading Down 1.0%

Shares of DC stock traded down $0.07 on Wednesday, hitting $6.14. The stock had a trading volume of 377,736 shares, compared to its average volume of 1,573,385. The firm has a market cap of $824.49 million, a P/E ratio of -14.99 and a beta of 1.23. The company has a fifty day moving average price of $5.83 and a two-hundred day moving average price of $5.39. Dakota Gold has a twelve month low of $3.79 and a twelve month high of $7.25.

About Dakota Gold

Dakota Gold Corp. NYSE: DC is a mineral exploration and development company focused on discovering and advancing gold deposits in the historic Homestake District of South Dakota. The company's activities include geological mapping, drilling, sampling, resource evaluation and other exploration work rather than commercial gold production.

Dakota Gold controls a substantial land position in the Homestake District, an area with a long history of gold mining near Lead, South Dakota. Its exploration portfolio includes projects such as Richmond Hill and Maitland, where the company is evaluating the potential for large-scale gold mineralization and developing targets for further drilling.

The Homestake District was historically one of the most important gold-producing regions in the United States.

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