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Robert Quartermain, the President and CEO of Dakota Gold Corp. (NYSE:DC), a company currently valued at $262 million, has made significant purchases of the company’s stock, according to a recent filing with the Securities and Exchange Commission. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value estimate. Over a series of transactions on April 2, 3, and 4, Quartermain acquired a total of 65,000 shares, with the purchase prices ranging from $2.50 to $2.615 per share. The total value of these acquisitions amounts to approximately $168,000. These purchases bring his total direct ownership to 7,743,244 shares. The company maintains strong liquidity with a current ratio of 3.62, and analysts have set an ambitious target price of $8.25. Want deeper insights into insider trading patterns and 6 additional exclusive ProTips? Check out InvestingPro.
Notably, the filing also corrected an administrative error, adjusting Quartermain’s holdings by three shares.
In other recent news, Dakota Gold Corp. has announced the resignation of Patrick Malone, the Senior Vice President and Chief Legal Officer, effective April 6, 2025. The company clarified that Malone’s departure was not due to any disagreements with management or the board of directors and expressed gratitude for his contributions. Dakota Gold has not yet named a successor for Malone’s position. Additionally, BMO Capital Markets has raised its price target for Dakota Gold to $7.50 from $6.00, maintaining an Outperform rating on the shares. This update follows a significant resource increase at the company’s Richmond Hill property, which now includes 6.3 million ounces of oxide and transition resources across all categories. BMO Capital’s analyst, Andrew Mikitchook, noted that the Richmond Hill oxides are comparable to the Wharf mine, suggesting a potential expansion of Dakota Gold’s development plan. The revised resource estimate could allow the company to increase its projected production from approximately 85,000 ounces of gold per year to nearly 200,000 ounces annually. Dakota Gold has not publicly responded to BMO Capital’s new price target or the assessment of the Richmond Hill resource update.
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