Dakota Gold (NYSE:DC) Shares Gap Down – What’s Next?

Shares of Dakota Gold Corp. (NYSE:DC) gapped down prior to trading on Tuesday . The stock had previously closed at $6.59, but opened at $5.82. Dakota Gold shares last traded at $6.0750, with a volume of 2,420,410 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Zacks Research raised shares of Dakota Gold to a “hold” rating in a research report on Tuesday, January 6th. HC Wainwright assumed coverage on Dakota Gold in a report on Monday, January 5th. They set a “buy” rating and a $9.75 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.25.

Dakota Gold Price Performance

The stock has a market capitalization of $672.21 million, a P/E ratio of -14.50 and a beta of 1.08. The stock has a fifty day moving average price of $5.97 and a 200 day moving average price of $4.90.

Insider Activity

In related news, CEO Robert Quartermain sold 250,000 shares of the stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $6.88, for a total value of $1,720,000.00. Following the sale, the chief executive officer owned 7,493,244 shares in the company, valued at approximately $51,553,518.72. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Shawn Campbell sold 55,000 shares of the business’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $6.30, for a total value of $346,500.00. Following the transaction, the chief financial officer directly owned 179,491 shares of the company’s stock, valued at $1,130,793.30. The trade was a 23.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On Dakota Gold

Hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC grew its holdings in Dakota Gold by 109.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,070 shares of the company’s stock worth $26,000 after acquiring an additional 3,700 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Dakota Gold by 120.5% during the second quarter. BNP Paribas Financial Markets now owns 8,309 shares of the company’s stock worth $31,000 after purchasing an additional 4,541 shares during the period. Ameritas Investment Partners Inc. grew its stake in shares of Dakota Gold by 130.7% in the second quarter. Ameritas Investment Partners Inc. now owns 8,788 shares of the company’s stock worth $32,000 after purchasing an additional 4,978 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Dakota Gold during the 3rd quarter valued at about $46,000. Finally, Financial Engines Advisors L.L.C. bought a new position in Dakota Gold during the 3rd quarter valued at approximately $46,000. 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 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.