Dakota Gold (NYSE:DC) Reaches New 52-Week High – Here’s Why

Dakota Gold Corp. (NYSE:DC) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $6.50 and last traded at $6.3760, with a volume of 1455025 shares changing hands. The stock had previously closed at $6.25.

Analyst Upgrades and Downgrades

DC has been the subject of several recent analyst reports. Zacks Research raised Dakota Gold to a “hold” rating in a research note on Tuesday, January 6th. HC Wainwright initiated coverage on shares of Dakota Gold in a report on Monday, January 5th. They issued a “buy” rating and a $9.75 price objective for the company. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.25.

Dakota Gold Trading Up 1.8%

The firm has a 50-day moving average price of $5.31 and a 200-day moving average price of $4.65. The company has a market capitalization of $720.35 million, a price-to-earnings ratio of -15.51 and a beta of 1.08.

Institutional Investors Weigh In On Dakota Gold

Institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC grew its stake in shares of Dakota Gold by 109.8% in 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 last quarter. BNP Paribas Financial Markets boosted its holdings in Dakota Gold by 120.5% during the second quarter. BNP Paribas Financial Markets now owns 8,309 shares of the company’s stock worth $31,000 after buying an additional 4,541 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Dakota Gold by 130.7% during the second quarter. Ameritas Investment Partners Inc. now owns 8,788 shares of the company’s stock worth $32,000 after buying an additional 4,978 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Dakota Gold in the third quarter worth approximately $46,000. Finally, Financial Engines Advisors L.L.C. bought a new position in shares of Dakota Gold in the third quarter valued at $46,000. 37.41% of the stock is owned by institutional investors and hedge funds.

Dakota Gold Company Profile

Dakota Gold Corp (NYSE:DC) is a mineral exploration and development company focused on advancing gold projects within the United States. The company’s primary asset is the historic Homestake District in South Dakota’s Black Hills, where it seeks to redevelop gold-bearing tailings and low‐grade ore volumes for open‐pit heap leach processing. Dakota Gold pursues a staged approach, combining exploration, resource delineation and economic studies to unlock value from legacy mine materials.

The firm’s flagship property comprises sealed tailings impoundments and adjacent low‐grade stockpiles left over from the Homestake Gold Mine, which operated from 1876 until 2002.