Dakota Gold (NYSE:DC) Shares Down 8.7% – Here’s Why

Shares of Dakota Gold Corp. (NYSE:DC) fell 8.7% on Friday . The stock traded as low as $5.67 and last traded at $5.7050. 311,969 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 1,632,839 shares. The stock had previously closed at $6.25.

Wall Street Analyst Weigh In

DC has been the topic of several recent analyst reports. Canadian Imperial Bank of Commerce initiated coverage on shares of Dakota Gold in a research report on Tuesday, May 5th. They set an “outperform” rating and a $11.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $10.50 target price on shares of Dakota Gold in a research note on Wednesday, April 22nd. Finally, Scotiabank began coverage on shares of Dakota Gold in a research note on Monday, February 23rd. They issued a “sector outperform” rating and a $10.00 price target on the stock. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $10.50.

Dakota Gold Price Performance

The firm has a market capitalization of $777.74 million, a PE ratio of -14.16 and a beta of 1.14. The business has a 50-day simple moving average of $5.54 and a 200-day simple moving average of $5.52.

Insider Activity

In other Dakota Gold news, CFO Shawn Campbell sold 21,207 shares of the business’s 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 $148,873.14. Following the completion of the transaction, the chief financial officer owned 231,526 shares in the company, valued at $1,625,312.52. The trade was a 8.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP James Mccoy Berry sold 12,388 shares of the business’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $7.02, for a total value of $86,963.76. Following the transaction, the vice president owned 371,748 shares of the company’s stock, valued at approximately $2,609,670.96. The trade was a 3.22% decrease in their position. The SEC filing for this sale provides additional information. 8.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dakota Gold

Institutional investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC increased its position in Dakota Gold by 105.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,203 shares of the company’s stock valued at $41,000 after purchasing an additional 3,703 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Dakota Gold by 120.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 8,309 shares of the company’s stock worth $31,000 after purchasing an additional 4,541 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Dakota Gold during the fourth quarter worth about $55,000. Financial Engines Advisors L.L.C. purchased a new stake in Dakota Gold during the 3rd quarter worth approximately $46,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of Dakota Gold in the 3rd quarter valued at $46,000. Hedge funds and other institutional investors own 37.41% of the company’s stock.

About Dakota Gold

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.