Dakota Gold (NYSE:DC) Stock Keeps “Buy” Rating at HC Wainwright

Dakota Gold (NYSE:DC)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research report issued on Wednesday, Benzinga reports. They presently have a $10.75 price target on the stock. HC Wainwright’s target price indicates a potential upside of 72.64% from the stock’s current price.

Dakota Gold Stock Up 0.3%

DC traded up $0.02 during trading hours on Wednesday, reaching $6.23. 241,626 shares of the company’s stock traded hands, compared to its average volume of 1,572,250. The firm has a 50-day moving average price of $5.83 and a 200 day moving average price of $5.39. Dakota Gold has a 52-week low of $3.79 and a 52-week high of $7.25. The firm has a market capitalization of $835.50 million, a PE ratio of -15.19 and a beta of 1.23.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DC. Donald Smith & CO. Inc. purchased a new position in Dakota Gold during the 2nd quarter worth $4,601,000. Royal Bank of Canada lifted its position in shares of Dakota Gold by 704.6% in the 1st quarter. Royal Bank of Canada now owns 574,105 shares of the company’s stock worth $2,899,000 after purchasing an additional 502,754 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Dakota Gold by 142.1% during the first quarter. Renaissance Technologies LLC now owns 601,889 shares of the company’s stock valued at $3,040,000 after purchasing an additional 353,289 shares in the last quarter. BlackRock Inc. bought a new position in shares of Dakota Gold during the second quarter valued at approximately $37,299,000. Finally, Euro Pacific Asset Management LLC increased its holdings in 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 buying an additional 482,565 shares during the period. 37.41% of the stock is currently owned by institutional investors.

About Dakota Gold

Dakota Gold Corp. (NYSE:DC) is a mineral exploration and development company focused on discovering and advancing gold deposits in the historic Homestake District of South Dakota. The company’s activities include geological mapping, drilling, sampling, resource evaluation and other exploration work rather than commercial gold production.

Dakota Gold controls a substantial land position in the Homestake District, an area with a long history of gold mining near Lead, South Dakota. Its exploration portfolio includes projects such as Richmond Hill and Maitland, where the company is evaluating the potential for large-scale gold mineralization and developing targets for further drilling.

The Homestake District was historically one of the most important gold-producing regions in the United States.