Dakota Gold’s (DC) “Buy” Rating Reiterated at HC Wainwright

Dakota Gold (NYSE:DC)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research note issued on Wednesday, Benzinga reports. They presently have a $10.75 price target on the stock. HC Wainwright’s target price points to a potential upside of 73.53% from the company’s current price.

Dakota Gold Stock Down 0.2%

Shares of NYSE DC traded down $0.02 during midday trading on Wednesday, reaching $6.20. 319,459 shares of the company’s stock traded hands, compared to its average volume of 1,572,979. The stock’s 50 day simple moving average is $5.83 and its 200-day simple moving average is $5.39. Dakota Gold has a one year low of $3.79 and a one year high of $7.25. The company has a market cap of $831.20 million, a price-to-earnings ratio of -15.11 and a beta of 1.23.

Hedge Funds Weigh In On Dakota Gold

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Global Retirement Partners LLC purchased a new stake in Dakota Gold during the second quarter valued at approximately $29,000. IFP Advisors Inc raised its holdings 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 worth $29,000 after buying an additional 1,838 shares during the last quarter. Legal & General Group Plc purchased a new position in shares of Dakota Gold in the second quarter worth $48,000. Ieq Capital LLC purchased a new position in shares of Dakota Gold in the second quarter worth $64,000. Finally, 55 North Private Wealth LLC raised its holdings in shares of Dakota Gold by 27.6% in the second quarter. 55 North Private Wealth LLC now owns 17,638 shares of the company’s stock worth $75,000 after buying an additional 3,812 shares during the last quarter. 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.