Royal Bank of Canada Grows Holdings in Dakota Gold Corp. $DC

Royal Bank of Canada increased its holdings in Dakota Gold Corp. (NYSE:DC) by 704.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 574,105 shares of the company’s stock after acquiring an additional 502,754 shares during the quarter. Royal Bank of Canada’s holdings in Dakota Gold were worth $2,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of DC. Renaissance Technologies LLC grew its holdings in Dakota Gold by 142.1% in the first quarter. Renaissance Technologies LLC now owns 601,889 shares of the company’s stock worth $3,040,000 after purchasing an additional 353,289 shares during the period. Euro Pacific Asset Management LLC lifted its holdings in shares of Dakota Gold by 15.8% during the first quarter. Euro Pacific Asset Management LLC now owns 3,534,049 shares of the company’s stock valued at $18,103,000 after purchasing an additional 482,565 shares during the last quarter. Electrum Group LLC purchased a new position in shares of Dakota Gold during the fourth quarter valued at approximately $1,310,000. GSA Capital Partners LLP boosted its position in shares of Dakota Gold by 2,183.3% in the 4th quarter. GSA Capital Partners LLP now owns 231,797 shares of the company’s stock worth $1,317,000 after purchasing an additional 221,645 shares in the last quarter. Finally, Sei Investments Co. bought a new stake in shares of Dakota Gold in the 1st quarter worth approximately $805,000. 37.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Todd J. Kenner purchased 17,921 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were purchased at an average price of $5.60 per share, for a total transaction of $100,357.60. Following the completion of the acquisition, the director directly owned 17,921 shares in the company, valued at $100,357.60. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jennifer S. Grafton sold 15,511 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.56, for a total transaction of $86,241.16. Following the sale, the director directly owned 144,560 shares of the company’s stock, valued at $803,753.60. This trade represents a 9.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 8.50% of the company’s stock.

Dakota Gold Stock Performance

NYSE:DC opened at $6.23 on Friday. The firm has a market cap of $834.37 million, a P/E ratio of -15.20 and a beta of 1.19. Dakota Gold Corp. has a fifty-two week low of $3.74 and a fifty-two week high of $7.25. The firm has a 50-day simple moving average of $4.79 and a two-hundred day simple moving average of $5.42.

Wall Street Analyst Weigh In

DC has been the subject of a number of analyst reports. Canadian Imperial Bank of Commerce began coverage on Dakota Gold in a research report on Tuesday, May 5th. They set an “outperform” rating and a $11.00 price objective for the company. Canaccord Genuity Group boosted their target price on Dakota Gold from $16.00 to $18.00 and gave the stock a “speculative buy” rating in a report on Tuesday, May 26th. Finally, HC Wainwright boosted their target price on Dakota Gold from $10.50 to $10.75 and gave the stock a “buy” rating in a report on Thursday, July 16th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.44.

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.