BMO Capital Raises PT on Dakota Gold Corp. (DC) to $9; Maintains 'Outperform' Rating

With significant hedge fund interest and a share price under $5, Dakota Gold Corp. (NYSE:DC) secures a place on our list of the 11 Best Gold Penny Stocks to Buy According to Hedge Funds (and Precious Metals Stocks).

BMO Capital increased its price target on Dakota Gold Corp. (NYSE:DC) from $7.50 to $9.00 on July 10, 2025, maintaining an ‘Outperform’ rating. The ongoing progress at the company’s Richmond Hill oxide gold project boosted the analyst sentiment.

The price revision follows the release of an Initial Assessment with Cash Flow (IACF). The feasibility projects an average annual production of 153,000 ounces of gold at an AISC of $1,047 per ounce over 17 years. Dakota Gold Corp. (NYSE:DC) estimated $380 million in initial capex, targeting first production for late 2029. The feasibility numbers aligned with the investment firm’s expectations, reinforcing its confidence in the company’s Richmond Hill project.

Dakota Gold Corp. (NYSE:DC) is focused on the acquisition, exploration, and development of mineral properties in the U.S. It is included in our list of the Best Penny Stocks.

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