Dakota Gold (NYSE:DC) Given “Buy” Rating at HC Wainwright

Dakota Gold (NYSE:DC)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a report released on Wednesday, Benzinga reports. They currently have a $10.75 target price on the stock. HC Wainwright’s price objective indicates a potential upside of 76.52% from the stock’s current price.

Dakota Gold Stock Down 1.9%

NYSE:DC traded down $0.12 during trading hours on Wednesday, hitting $6.09. 1,225,758 shares of the stock traded hands, compared to its average volume of 1,578,036. Dakota Gold has a 1 year low of $3.79 and a 1 year high of $7.25. The company has a market cap of $817.11 million, a price-to-earnings ratio of -14.85 and a beta of 1.23. The stock has a 50 day moving average price of $5.83 and a 200 day moving average price of $5.39.

Hedge Funds Weigh In On Dakota Gold

Several large investors have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC purchased a new position in Dakota Gold during the second quarter valued at approximately $91,000. IFP Advisors Inc lifted its holdings in Dakota Gold by 36.5% during 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 in the last quarter. Squarepoint Ops LLC lifted its holdings in Dakota Gold by 14.7% during the second quarter. Squarepoint Ops LLC now owns 107,865 shares of the company’s stock valued at $460,000 after purchasing an additional 13,789 shares in the last quarter. Corient Private Wealth LP purchased a new position in Dakota Gold during the second quarter valued at approximately $117,000. Finally, Amundi lifted its holdings in Dakota Gold by 3.5% during the second quarter. Amundi now owns 2,225,000 shares of the company’s stock valued at $9,478,000 after purchasing an additional 75,000 shares in the last quarter. 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.