Quantbot Technologies LP Takes Position in Dakota Gold Corp. $DC

Quantbot Technologies LP purchased a new position in shares of Dakota Gold Corp. (NYSE:DC) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 119,919 shares of the company’s stock, valued at approximately $511,000. Quantbot Technologies LP owned 0.09% of Dakota Gold at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. bought a new position in Dakota Gold in the second quarter valued at approximately $37,299,000. Donald Smith & CO. Inc. acquired a new stake in Dakota Gold during the 2nd quarter worth $4,601,000. Groupe la Francaise raised its position in shares of Dakota Gold by 154.5% during the 1st quarter. Groupe la Francaise now owns 1,400,000 shares of the company’s stock valued at $7,041,000 after acquiring an additional 850,000 shares during the last quarter. Amundi raised its position in shares of Dakota Gold by 43.3% during the 1st quarter. Amundi now owns 2,150,000 shares of the company’s stock valued at $10,858,000 after acquiring an additional 650,000 shares during the last quarter. Finally, Global Strategic Management Inc. bought a new stake in shares of Dakota Gold during the 4th quarter valued at $3,094,000. 37.41% of the stock is owned by institutional investors.

Dakota Gold Stock Performance

DC opened at $6.24 on Friday. The firm’s fifty day moving average is $5.01 and its two-hundred day moving average is $5.40. The firm has a market cap of $837.24 million, a PE ratio of -15.22 and a beta of 1.19. Dakota Gold Corp. has a twelve month low of $3.79 and a twelve month high of $7.25.

Analysts Set New Price Targets

Several research firms have recently issued reports on DC. HC Wainwright raised their price target on Dakota Gold from $10.50 to $10.75 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Canadian Imperial Bank of Commerce assumed coverage on Dakota Gold in a report on Tuesday, May 5th. They issued an “outperform” rating and a $11.00 price objective for the company. Finally, Canaccord Genuity Group increased their target price on Dakota Gold from $16.00 to $18.00 and gave the company a “speculative buy” rating in a research note on Tuesday, May 26th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $12.44.

Dakota Gold 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.