DRDGOLD (NYSE:DRD) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of DRDGOLD (NYSE:DRD) from a buy rating to a hold rating in a research report sent to investors on Thursday.

Separately, HC Wainwright dropped their price objective on DRDGOLD from $15.50 to $13.25 and set a buy rating on the stock in a research note on Thursday, August 22nd.

DRDGOLD Price Performance

Shares of DRDGOLD stock opened at $10.11 on Thursday. The business’s fifty day moving average price is $9.14 and its two-hundred day moving average price is $8.77. The company has a market capitalization of $874.10 million, a P/E ratio of 11.76 and a beta of 1.12. DRDGOLD has a 1-year low of $6.48 and a 1-year high of $10.69.

DRDGOLD Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 13th were issued a $0.1126 dividend. This represents a dividend yield of 1.9%. This is a boost from DRDGOLD’s previous semi-annual dividend of $0.11. The ex-dividend date of this dividend was Friday, September 13th. DRDGOLD’s payout ratio is presently 19.77%.

Hedge Funds Weigh In On DRDGOLD

A number of hedge funds have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. grew its holdings in shares of DRDGOLD by 11.3% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 17,778 shares of the basic materials company’s stock worth $153,000 after acquiring an additional 1,802 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of DRDGOLD by 68.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,529 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 1,840 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of DRDGOLD by 4,107.5% in the 2nd quarter. Blue Trust Inc. now owns 6,143 shares of the basic materials company’s stock worth $50,000 after acquiring an additional 5,997 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in shares of DRDGOLD in the 2nd quarter worth $86,000. Finally, Creekmur Asset Management LLC acquired a new position in shares of DRDGOLD in the 4th quarter worth $216,000. 14.70% of the stock is currently owned by institutional investors and hedge funds.

DRDGOLD Company Profile

DRDGOLD Limited, a gold mining company, engages in the surface gold tailings retreatment business in South Africa. It also involved in the exploration, extraction, processing, and smelting activities. The company recovers gold from surface tailings in the Witwatersrand basin in Gauteng province. DRDGOLD Limited was formerly known as Durban Roodepoort Deep Limited and changed its name to DRDGOLD Limited in 2004.