BMO Capital Markets Initiates Coverage on Dakota Gold (NYSE:DC)

BMO Capital Markets began coverage on shares of Dakota Gold (NYSE:DC) in a report published on Friday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $6.00 price objective on the stock.

Dakota Gold Stock Down 3.3 %

Shares of NYSE DC opened at $2.23 on Friday. Dakota Gold has a 52 week low of $1.84 and a 52 week high of $3.25. The firm’s fifty day moving average is $2.27 and its 200 day moving average is $2.43. The company has a market cap of $208.39 million, a price-to-earnings ratio of -5.06 and a beta of 1.11.

Dakota Gold (NYSE:DC) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.10) EPS for the quarter.

Insider Transactions at Dakota Gold

In other Dakota Gold news, CAO Patrick Shay Malone sold 27,000 shares of Dakota Gold stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $2.45, for a total transaction of $66,150.00. Following the sale, the chief accounting officer now directly owns 228,846 shares of the company’s stock, valued at approximately $560,672.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Dakota Gold news, insider James Mccoy Berry purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was bought at an average cost of $2.48 per share, for a total transaction of $49,600.00. Following the purchase, the insider now directly owns 273,752 shares in the company, valued at $678,904.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Patrick Shay Malone sold 27,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $2.45, for a total transaction of $66,150.00. Following the transaction, the chief accounting officer now directly owns 228,846 shares of the company’s stock, valued at approximately $560,672.70. The disclosure for this sale can be found here. Corporate insiders own 26.02% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Orion Resource Partners USA LP purchased a new stake in shares of Dakota Gold during the fourth quarter valued at approximately $17,467,000. Donald Smith & CO. Inc. purchased a new stake in Dakota Gold during the 2nd quarter valued at $778,000. Marshall Wace LLP purchased a new stake in Dakota Gold during the 2nd quarter valued at $666,000. Van ECK Associates Corp increased its holdings in shares of Dakota Gold by 3.7% in the 1st quarter. Van ECK Associates Corp now owns 3,614,465 shares of the company’s stock worth $8,566,000 after purchasing an additional 130,099 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Dakota Gold by 3.6% in the first quarter. Vanguard Group Inc. now owns 2,866,104 shares of the company’s stock worth $6,793,000 after purchasing an additional 100,799 shares during the last quarter. Hedge funds and other institutional investors own 37.41% of the company’s stock.

Dakota Gold Company Profile

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.