BMO Capital Markets Forecasts Strong Price Appreciation for Dakota Gold (NYSE:DC) Stock

Dakota Gold (NYSE:DC - Get Free Report) had its price objective increased by equities researchers at BMO Capital Markets from $6.00 to $7.50 in a report released on Monday,Benzinga reports. The firm currently has an "outperform" rating on the stock. BMO Capital Markets' price target indicates a potential upside of 130.41% from the stock's current price.

Dakota Gold Stock Up 3.7 %

Shares of NYSE:DC traded up $0.12 during midday trading on Monday, reaching $3.26. 251,710 shares of the company were exchanged, compared to its average volume of 339,970. The firm has a market cap of $307.37 million, a PE ratio of -7.91 and a beta of 1.10. Dakota Gold has a fifty-two week low of $1.84 and a fifty-two week high of $3.35. The stock has a fifty day simple moving average of $2.34 and a two-hundred day simple moving average of $2.28.

Insider Activity

In other Dakota Gold news, CEO Robert Quartermain purchased 20,000 shares of the stock in a transaction on Thursday, November 21st. The shares were purchased at an average cost of $2.21 per share, for a total transaction of $44,200.00. Following the purchase, the chief executive officer now owns 7,617,877 shares of the company's stock, valued at approximately $16,835,508.17. This represents a 0.26 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought a total of 59,490 shares of company stock worth $129,543 over the last three months. Corporate insiders own 26.02% of the company's stock.

Hedge Funds Weigh In On Dakota Gold

Hedge funds have recently modified their holdings of the stock. Euro Pacific Asset Management LLC raised its holdings in Dakota Gold by 186.0% during the fourth quarter. Euro Pacific Asset Management LLC now owns 1,113,290 shares of the company's stock worth $2,464,000 after acquiring an additional 723,970 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Dakota Gold by 16.9% during the 3rd quarter. Van ECK Associates Corp now owns 3,441,636 shares of the company's stock worth $8,535,000 after purchasing an additional 498,368 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Dakota Gold by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,458,553 shares of the company's stock valued at $3,443,000 after buying an additional 60,918 shares during the last quarter. Barclays PLC grew its stake in shares of Dakota Gold by 294.0% in the third quarter. Barclays PLC now owns 93,667 shares of the company's stock valued at $222,000 after buying an additional 69,896 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Dakota Gold by 15.3% during the second quarter. Renaissance Technologies LLC now owns 44,500 shares of the company's stock worth $113,000 after buying an additional 5,900 shares during the last quarter. Institutional investors own 37.41% of the company's stock.

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.