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

Dakota Gold (NYSE:DC)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a report released on Wednesday, Benzinga reports. They presently have a $10.75 price objective on the stock. HC Wainwright’s price target points to a potential upside of 79.77% from the stock’s previous close.

Dakota Gold Price Performance

Shares of NYSE:DC traded down $0.11 during midday trading on Wednesday, hitting $5.98. The company had a trading volume of 1,013,657 shares, compared to its average volume of 1,575,152. Dakota Gold has a twelve month low of $3.79 and a twelve month high of $7.25. The stock has a market cap of $802.35 million, a price-to-earnings ratio of -14.59 and a beta of 1.23. The business’s 50-day simple moving average is $5.85 and its 200-day simple moving average is $5.39.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. IFP Advisors Inc grew 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 valued at $29,000 after purchasing an additional 1,838 shares during the period. Brookstone Capital Management boosted its holdings in Dakota Gold by 19.5% in the 1st quarter. Brookstone Capital Management now owns 15,950 shares of the company’s stock valued at $81,000 after purchasing an additional 2,600 shares during the last quarter. 55 North Private Wealth LLC boosted its holdings in Dakota Gold by 27.6% in the 2nd quarter. 55 North Private Wealth LLC now owns 17,638 shares of the company’s stock valued at $75,000 after purchasing an additional 3,812 shares during the last quarter. Hickory Point Bank & Trust purchased a new stake in shares of Dakota Gold in the 3rd quarter valued at approximately $30,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of Dakota Gold in the 2nd quarter valued at approximately $29,000. Hedge funds and other institutional investors own 37.41% of the company’s stock.

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.