DRDGOLD (NYSE:DRD) Shares Gap Up – Still a Buy?

DRDGOLD Limited (NYSE:DRD)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $10.75, but opened at $11.25. DRDGOLD shares last traded at $11.24, with a volume of 71,701 shares traded.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. StockNews.com downgraded shares of DRDGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. HC Wainwright dropped their target price on shares of DRDGOLD from $15.50 to $13.25 and set a “buy” rating for the company in a report on Thursday, August 22nd.

DRDGOLD Price Performance

The business’s fifty day moving average is $9.24 and its 200-day moving average is $8.95.

DRDGOLD Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, September 13th were given a dividend of $0.1126 per share. This represents a yield of 1.9%. This is a boost from DRDGOLD’s previous semi-annual dividend of $0.11. The ex-dividend date was Friday, September 13th.

Hedge Funds Weigh In On DRDGOLD

Institutional investors have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. purchased a new position in shares of DRDGOLD during the 1st quarter valued at approximately $131,000. Van ECK Associates Corp grew its holdings in DRDGOLD by 7.0% during the 1st quarter. Van ECK Associates Corp now owns 6,563,184 shares of the basic materials company’s stock worth $53,818,000 after acquiring an additional 430,603 shares in the last quarter. Blue Trust Inc. increased its position 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 purchasing an additional 5,997 shares during the last quarter. American Century Companies Inc. raised its stake in shares of DRDGOLD by 36.8% in the 2nd quarter. American Century Companies Inc. now owns 679,600 shares of the basic materials company’s stock valued at $5,851,000 after purchasing an additional 182,900 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC bought a new position in shares of DRDGOLD during the second quarter worth about $86,000. Institutional investors and hedge funds own 14.70% of the company’s stock.

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.