DRDGOLD (NYSE:DRD) Trading Down 2.5% – Here’s Why

DRDGOLD Limited (NYSE:DRD) was down 2.5% on Monday . The stock traded as low as $13.90 and last traded at $13.86. Approximately 107,444 shares traded hands during trading, a decline of 71% from the average daily volume of 365,513 shares. The stock had previously closed at $14.21.

Wall Street Analyst Weigh In

DRD has been the subject of a number of research reports. StockNews.com upgraded DRDGOLD from a “hold” rating to a “buy” rating in a research report on Friday, March 14th. HC Wainwright lowered their price objective on shares of DRDGOLD from $17.25 to $16.25 and set a “buy” rating for the company in a research report on Wednesday, February 19th.

DRDGOLD Stock Up 1.2 %

The stock has a market capitalization of $1.21 billion, a PE ratio of 11.13 and a beta of 1.09. The stock’s 50 day moving average price is $11.54 and its 200-day moving average price is $10.44.

DRDGOLD Dividend Announcement

The business also recently announced an annual dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, March 14th will be paid a $0.1628 dividend. The ex-dividend date is Friday, March 14th. This represents a yield of 1.8%. DRDGOLD’s dividend payout ratio is currently 19.05%.

Institutional Trading of DRDGOLD

A number of hedge funds have recently added to or reduced their stakes in the business. PKO Investment Management Joint Stock Co purchased a new position in shares of DRDGOLD in the 4th quarter valued at $439,000. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. purchased a new stake in shares of DRDGOLD during the fourth quarter valued at $276,000. Public Employees Retirement System of Ohio grew its holdings in shares of DRDGOLD by 26.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 56,592 shares of the basic materials company’s stock valued at $488,000 after buying an additional 11,921 shares during the last quarter. GTS Securities LLC acquired a new position in shares of DRDGOLD in the 4th quarter valued at $170,000. Finally, Squarepoint Ops LLC purchased a new position in DRDGOLD in the 4th quarter worth $110,000. 14.70% of the stock is owned by hedge funds and other institutional investors.

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.