HC Wainwright Reaffirms Buy Rating for Dakota Gold (NYSE:DC)

Dakota Gold (NYSE:DC)‘s stock had its “buy” rating restated by HC Wainwright in a research report issued on Wednesday, Benzinga reports. They currently have a $10.75 price objective on the stock. HC Wainwright’s price objective would indicate a potential upside of 76.95% from the company’s previous close.

Dakota Gold Stock Performance

DC stock traded down $0.02 during midday trading on Wednesday, reaching $6.08. The stock had a trading volume of 374,632 shares, compared to its average volume of 1,571,405. The stock has a market cap of $815.10 million, a PE ratio of -14.82 and a beta of 1.23. The firm has a fifty day simple moving average of $5.85 and a two-hundred day simple moving average of $5.39. Dakota Gold has a 52-week low of $3.79 and a 52-week high of $7.25.

Hedge Funds Weigh In On Dakota Gold

Institutional investors and hedge funds have recently modified their holdings of the stock. Donald Smith & CO. Inc. purchased a new stake in shares of Dakota Gold in the second quarter valued at approximately $4,601,000. Royal Bank of Canada grew its position in shares of Dakota Gold by 704.6% in the first quarter. Royal Bank of Canada now owns 574,105 shares of the company’s stock valued at $2,899,000 after purchasing an additional 502,754 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Dakota Gold by 142.1% in the first quarter. Renaissance Technologies LLC now owns 601,889 shares of the company’s stock valued at $3,040,000 after purchasing an additional 353,289 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Dakota Gold in the second quarter valued at approximately $37,299,000. Finally, Euro Pacific Asset Management LLC grew its position in shares of Dakota Gold by 15.8% in the first quarter. Euro Pacific Asset Management LLC now owns 3,534,049 shares of the company’s stock valued at $18,103,000 after purchasing an additional 482,565 shares in the last quarter. Institutional investors and hedge funds own 37.41% of the company’s stock.

Dakota Gold Company Profile

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.