Dakota Gold (NYSE:DC) Shares Down 8% – Time to Sell?

Dakota Gold Corp. (NYSE:DC)’s stock price dropped 8% during mid-day trading on Monday . The stock traded as low as $5.59 and last traded at $5.61. Approximately 276,796 shares changed hands during trading, a decline of 84% from the average daily volume of 1,716,998 shares. The stock had previously closed at $6.10.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. HC Wainwright assumed coverage on Dakota Gold in a research note on Monday, January 5th. They issued a “buy” rating and a $9.75 target price on the stock. Scotiabank initiated coverage on Dakota Gold in a report on Monday, February 23rd. They issued a “sector outperform” rating and a $10.00 price objective on the stock. Finally, Zacks Research raised shares of Dakota Gold to a “hold” rating in a research report on Tuesday, January 6th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.19.

Dakota Gold Stock Performance

The firm has a market capitalization of $674.88 million, a price-to-earnings ratio of -14.17 and a beta of 1.03. The business’s 50 day moving average is $6.17 and its 200-day moving average is $5.20.

Insider Activity

In related news, VP James Mccoy Berry sold 12,388 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $7.02, for a total transaction of $86,963.76. Following the completion of the sale, the vice president owned 371,748 shares in the company, valued at $2,609,670.96. This represents a 3.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert Quartermain sold 250,000 shares of the business’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $6.88, for a total transaction of $1,720,000.00. Following the transaction, the chief executive officer owned 7,493,244 shares in the company, valued at approximately $51,553,518.72. The trade was a 3.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 338,595 shares of company stock valued at $2,302,337. 17.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Dakota Gold

A number of institutional investors have recently added to or reduced their stakes in the company. Fiscal Wisdom Wealth Management LLC bought a new position in Dakota Gold during the third quarter valued at about $3,659,000. Global Strategic Management Inc. bought a new stake in shares of Dakota Gold during the fourth quarter valued at approximately $3,094,000. Tudor Investment Corp ET AL bought a new position in Dakota Gold in the third quarter worth $2,224,000. Invesco Ltd. boosted its stake in Dakota Gold by 890.0% during the fourth quarter. Invesco Ltd. now owns 542,712 shares of the company’s stock worth $3,083,000 after buying an additional 487,891 shares in the last quarter. Finally, Amundi increased its holdings in Dakota Gold by 46.3% in the 3rd quarter. Amundi now owns 1,500,000 shares of the company’s stock valued at $6,900,000 after buying an additional 475,000 shares during the period. 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.