Palogic Value Management L.P. Makes New $426,000 Investment in Dakota Gold Corp. $DC

Palogic Value Management L.P. purchased a new position in shares of Dakota Gold Corp. (NYSE:DC) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 100,001 shares of the company’s stock, valued at approximately $426,000.

Several other hedge funds have also recently modified their holdings of the stock. Global Retirement Partners LLC acquired a new stake in Dakota Gold in the 2nd quarter worth approximately $29,000. BNP Paribas Financial Markets raised its holdings in shares of Dakota Gold by 120.5% in 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 during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Dakota Gold by 105.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,203 shares of the company’s stock worth $41,000 after buying an additional 3,703 shares during the period. Financial Engines Advisors L.L.C. acquired a new stake in shares of Dakota Gold during the third quarter worth $46,000. Finally, Sherbrooke Park Advisers LLC purchased a new stake in shares of Dakota Gold during the third quarter valued at $46,000. Institutional investors and hedge funds own 37.41% of the company’s stock.

Dakota Gold Price Performance

Shares of Dakota Gold stock opened at $6.10 on Thursday. The stock has a market cap of $818.46 million, a PE ratio of -14.88 and a beta of 1.19. The firm has a fifty day moving average price of $4.99 and a 200 day moving average price of $5.40. Dakota Gold Corp. has a 1 year low of $3.79 and a 1 year high of $7.25.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DC shares. Canaccord Genuity Group upped 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 boosted their price target on Dakota Gold from $10.50 to $10.75 and gave the company a “buy” rating in a research note on Thursday, July 16th. Finally, Canadian Imperial Bank of Commerce initiated coverage on Dakota Gold in a report on Tuesday, May 5th. They issued an “outperform” rating and a $11.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Dakota Gold has an average rating of “Moderate Buy” and an average target price of $12.44.

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.