Dakota Gold (NYSE:DC) Stock Crosses Above 50-Day Moving Average – What’s Next?

Dakota Gold Corp. (NYSE:DC)’s share price passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $5.84 and traded as high as $6.02. Dakota Gold shares last traded at $5.95, with a volume of 1,076,137 shares changing hands.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and set a $10.75 price target on shares of Dakota Gold in a research note on Wednesday, September 30th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.44.

Dakota Gold Price Performance

The company has a market capitalization of $798.33 million, a PE ratio of -14.51 and a beta of 1.27. The stock’s 50 day simple moving average is $5.84 and its 200-day simple moving average is $5.58.

Institutional Investors Weigh In On Dakota Gold

Several large investors have recently added to or reduced their stakes in DC. Commonwealth Equity Services LLC acquired a new position in shares of Dakota Gold in the third quarter worth $126,000. McAlvany Wealth Management LLC increased its position in shares of Dakota Gold by 26.5% during the third quarter. McAlvany Wealth Management LLC now owns 30,297 shares of the company’s stock worth $185,000 after acquiring an additional 6,342 shares during the period. Moss Adams Wealth Advisors LLC acquired a new stake in shares of Dakota Gold in the third quarter valued at $81,000. IFP Advisors Inc raised its stake in shares of Dakota Gold by 552.4% in the third quarter. IFP Advisors Inc now owns 44,835 shares of the company’s stock valued at $273,000 after acquiring an additional 37,963 shares in the last quarter. Finally, Global Strategic Management Inc. raised its stake in shares of Dakota Gold by 0.7% in the third quarter. Global Strategic Management Inc. now owns 502,184 shares of the company’s stock valued at $3,058,000 after acquiring an additional 3,400 shares in the last quarter. 37.41% of the stock is owned by hedge funds and other institutional investors.

About Dakota Gold

Dakota Gold Corp. 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 center on evaluating prospective properties, conducting geological and drilling programs, and developing resources rather than producing or selling gold.

Its primary exploration assets include the Richmond Hill and Maitland gold projects, located in the northern Black Hills near the historic Homestake mine.