Dakota Gold (NYSE:DC) Stock Price Up 8.1% - Time to Buy?

Key Points

• Dakota Gold shares jumped 8.1% intraday to approximately $6.86, with about 1.42 million shares traded—below the stock’s average volume.
• Analyst sentiment is 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. Canaccord Genuity raised its target to $18.
• Dakota Gold is an exploration-stage company focused on gold deposits in South Dakota’s historic Homestake District; institutional investors and hedge funds own 37.41% of its shares.

Dakota Gold Corp. (NYSE:DC - Get Free Report) shot up 8.1% during mid-day trading on Tuesday . The stock traded as high as $6.83 and last traded at $6.8550. Approximately 1,420,660 shares changed hands during trading, a decline of 9% from the average daily volume of 1,569,340 shares. The stock had previously closed at $6.34.

Wall Street Analyst Weigh In

DC has been the topic of several analyst reports. Canaccord Genuity Group raised their target price on Dakota Gold from $16.00 to $18.00 and gave the company a "speculative buy" rating in a research report on Tuesday, May 26th. HC Wainwright reissued a "buy" rating on shares of Dakota Gold in a research note on Friday, September 11th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Dakota Gold presently has an average rating of "Moderate Buy" and a consensus target price of $12.44.

Dakota Gold Trading Up 9.4%

The business's 50-day simple moving average is $5.55 and its 200 day simple moving average is $5.37. The company has a market capitalization of $930.49 million, a P/E ratio of -16.82 and a beta of 1.23.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. IFP Advisors Inc raised its stake in Dakota Gold by 36.5% during 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. Brookstone Capital Management increased its holdings in shares of Dakota Gold by 19.5% in the 1st quarter. Brookstone Capital Management now owns 15,950 shares of the company's stock valued at $81,000 after purchasing an additional 2,600 shares during the period. 55 North Private Wealth LLC lifted its position in shares of Dakota Gold by 27.6% in the second quarter. 55 North Private Wealth LLC now owns 17,638 shares of the company's stock worth $75,000 after purchasing an additional 3,812 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in Dakota Gold in the 2nd quarter worth approximately $29,000. Finally, Tradition Wealth Management LLC boosted its position in Dakota Gold by 38.6% during the fourth quarter. Tradition Wealth Management LLC now owns 27,309 shares of the company's stock valued at $155,000 after purchasing an additional 7,600 shares during the last quarter. 37.41% of the stock is owned by institutional investors and hedge funds.

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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