DRDGOLD (NYSE:DRD) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of DRDGOLD (NYSE:DRD) from a hold rating to a buy rating in a research report report published on Wednesday.

Separately, HC Wainwright cut their price objective on shares of DRDGOLD from $17.25 to $16.25 and set a “buy” rating on the stock in a report on Wednesday.

DRDGOLD Price Performance

DRD stock opened at $10.53 on Wednesday. DRDGOLD has a twelve month low of $6.48 and a twelve month high of $12.70. The company’s 50 day moving average is $9.62 and its two-hundred day moving average is $9.75.

Hedge Funds Weigh In On DRDGOLD

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in shares of DRDGOLD by 53.0% in the 4th quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 1,122 shares during the period. Van ECK Associates Corp increased its holdings in shares of DRDGOLD by 24.2% in the 3rd quarter. Van ECK Associates Corp now owns 6,621,470 shares of the basic materials company’s stock valued at $63,831,000 after acquiring an additional 1,291,541 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of DRDGOLD by 11.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 93,206 shares of the basic materials company’s stock valued at $899,000 after acquiring an additional 9,765 shares during the period. Blue Trust Inc. increased its holdings in shares of DRDGOLD by 488.4% in the 3rd quarter. Blue Trust Inc. now owns 36,144 shares of the basic materials company’s stock valued at $348,000 after acquiring an additional 30,001 shares during the period. Finally, ABC Arbitrage SA acquired a new position in shares of DRDGOLD in the 4th quarter valued at $1,140,000. 14.70% of the stock is owned by institutional investors and hedge funds.

About DRDGOLD

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.