Investors Buy Large Volume of Dakota Gold Call Options (NYSE:DC)

Key Points

• Unusual options activity: Traders purchased 2,443 Dakota Gold call options, about 281% above the typical daily volume of 641 contracts.
• Analyst sentiment remains positive: Four analysts rate the stock a Buy and one rates it Hold, producing a consensus “Moderate Buy” rating and an average price target of $12.44. Canaccord Genuity raised its target to $18 and assigned a “speculative buy” rating.
• Stock and ownership update: Dakota Gold shares traded at $5.73, within a 12-month range of $3.79 to $7.25, while institutional investors and hedge funds owned 37.41% of the company.

Dakota Gold Corp. (NYSE:DC - Get Free Report) saw some unusual options trading on Monday. Traders acquired 2,443 call options on the company. This is an increase of approximately 281% compared to the typical daily volume of 641 call options.

Dakota Gold Price Performance

Shares of NYSE DC traded down $0.08 during midday trading on Monday, reaching $5.73. 685,837 shares of the stock were exchanged, compared to its average volume of 1,552,376. Dakota Gold has a 12 month low of $3.79 and a 12 month high of $7.25. The company has a market capitalization of $768.54 million, a price-to-earnings ratio of -13.96 and a beta of 1.23. The business has a 50-day simple moving average of $5.36 and a two-hundred day simple moving average of $5.40.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DC. Sequoia Financial Advisors LLC bought a new stake in Dakota Gold in the 2nd quarter valued at $91,000. IFP Advisors Inc raised its stake in shares of Dakota Gold by 36.5% in the 2nd quarter. IFP Advisors Inc now owns 6,872 shares of the company's stock valued at $29,000 after purchasing an additional 1,838 shares during the period. Squarepoint Ops LLC lifted its holdings in shares of Dakota Gold by 14.7% in the second quarter. Squarepoint Ops LLC now owns 107,865 shares of the company's stock valued at $460,000 after purchasing an additional 13,789 shares in the last quarter. Corient Private Wealth LP bought a new stake in shares of Dakota Gold in the second quarter valued at about $117,000. Finally, Amundi boosted its position in shares of Dakota Gold by 3.5% during the second quarter. Amundi now owns 2,225,000 shares of the company's stock worth $9,478,000 after buying an additional 75,000 shares during the period. 37.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on DC. Canaccord Genuity Group lifted their price objective on Dakota Gold from $16.00 to $18.00 and gave the stock a "speculative buy" rating in a research note on Tuesday, May 26th. HC Wainwright restated a "buy" rating on shares of Dakota Gold in a report on Friday. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $12.44.

Dakota Gold Company Profile

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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