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

Dakota Gold (NYSE:DC)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $10.75 target price on the stock. HC Wainwright’s target price points to a potential upside of 72.14% from the stock’s current price.

Dakota Gold Stock Up 0.6%

Shares of NYSE:DC traded up $0.04 during midday trading on Wednesday, reaching $6.25. The company’s stock had a trading volume of 95,296 shares, compared to its average volume of 1,571,678. The firm has a market cap of $837.91 million, a price-to-earnings ratio of -15.21 and a beta of 1.23. The business has a 50 day moving average price of $5.83 and a 200 day moving average price of $5.39. Dakota Gold has a 1 year low of $3.79 and a 1 year high of $7.25.

Institutional Investors Weigh In On Dakota Gold

A number of institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC purchased a new position in Dakota Gold during the second quarter worth approximately $29,000. IFP Advisors Inc grew its stake in shares of Dakota Gold by 36.5% in the second quarter. IFP Advisors Inc now owns 6,872 shares of the company’s stock valued at $29,000 after buying an additional 1,838 shares in the last quarter. Legal & General Group Plc acquired a new position in Dakota Gold during the 2nd quarter worth approximately $48,000. Wealth Preservation Advisors LLC purchased a new position in Dakota Gold in the 4th quarter worth approximately $81,000. Finally, Ieq Capital LLC acquired a new stake in Dakota Gold in the second quarter valued at approximately $64,000. 37.41% of the stock is currently owned by hedge funds and other 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.