Dakota Gold (NYSE:DC) Stock Sees Heavy Call Option Buying

Dakota Gold Corp. (NYSE:DC) was the target of some unusual options trading activity on Wednesday. Stock traders acquired 3,562 call options on the stock. This is an increase of 337% compared to the typical volume of 815 call options.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and set a $10.75 price target on shares of Dakota Gold in a research report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Dakota Gold has an average rating of “Moderate Buy” and a consensus price target of $12.44.

Institutional Trading of Dakota Gold

Hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc grew its holdings in shares of Dakota Gold by 36.5% during the 2nd quarter. IFP Advisors Inc now owns 6,872 shares of the company’s stock valued at $29,000 after purchasing an additional 1,838 shares during the last quarter. Brookstone Capital Management boosted its position in Dakota Gold by 19.5% in the first quarter. Brookstone Capital Management now owns 15,950 shares of the company’s stock valued at $81,000 after buying an additional 2,600 shares in the last quarter. 55 North Private Wealth LLC grew its stake in shares of Dakota Gold by 27.6% during 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. Global Retirement Partners LLC bought a new stake in shares of Dakota Gold during the second quarter worth $29,000. Finally, Tradition Wealth Management LLC increased its holdings in shares of Dakota Gold by 38.6% during the fourth quarter. Tradition Wealth Management LLC now owns 27,309 shares of the company’s stock worth $155,000 after buying an additional 7,600 shares in the last quarter. 37.41% of the stock is owned by institutional investors and hedge funds.

Dakota Gold Price Performance

Dakota Gold stock traded down $0.07 during trading hours on Wednesday, hitting $6.14. The company had a trading volume of 377,736 shares, compared to its average volume of 1,573,385. The firm has a 50-day moving average of $5.83 and a 200 day moving average of $5.39. The firm has a market cap of $824.49 million, a PE ratio of -14.99 and a beta of 1.23. Dakota Gold has a one year low of $3.79 and a one year high of $7.25.

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.