Dakota Gold (NYSE:DC) Shares Down 8.8% – What’s Next?

Dakota Gold Corp. (NYSE:DC)’s share price fell 8.8% during mid-day trading on Friday . The stock traded as low as $4.80 and last traded at $4.82. 640,352 shares traded hands during trading, a decline of 7% from the average session volume of 691,455 shares. The stock had previously closed at $5.28.

Analyst Ratings Changes

Separately, BMO Capital Markets reaffirmed an “outperform” rating and set a $9.00 price objective (up from $7.50) on shares of Dakota Gold in a research report on Thursday, July 10th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $10.50.

Dakota Gold Trading Down 12.3%

The company’s 50 day moving average is $4.49 and its 200 day moving average is $3.77. The stock has a market capitalization of $520.15 million, a price-to-earnings ratio of -11.29 and a beta of 1.15.

Institutional Investors Weigh In On Dakota Gold

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC raised its stake in Dakota Gold by 109.8% during 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 in the last quarter. BNP Paribas Financial Markets increased its stake in Dakota Gold by 120.5% in the second quarter. BNP Paribas Financial Markets now owns 8,309 shares of the company’s stock valued at $31,000 after purchasing an additional 4,541 shares during the period. Ameritas Investment Partners Inc. increased its stake in Dakota Gold by 130.7% in the second quarter. Ameritas Investment Partners Inc. now owns 8,788 shares of the company’s stock valued at $32,000 after purchasing an additional 4,978 shares during the period. EntryPoint Capital LLC acquired a new position in Dakota Gold in the first quarter valued at $52,000. Finally, Los Angeles Capital Management LLC acquired a new position in Dakota Gold in the second quarter valued at $59,000. 37.41% of the stock is currently owned by institutional investors and hedge funds.

About Dakota Gold

Dakota Gold Corp. engages in the acquisition, exploration, and development of mineral properties in the United States. It primarily explores for gold deposits. The company holds 100% interest in the Blind Gold, City Creek, Tinton, West Corridor, Ragged Top, Poorman Anticline, Maitland, South Lead/ Whistler Gulch, the Barrick Option, Richmond Hill and Homestake Paleoplacer Properties located in Homestake Mining District, South Dakota.