DRDGOLD (NYSE:DRD) Stock Price Down 8.9% – Here’s What Happened

DRDGOLD Limited (NYSE:DRD)’s share price dropped 8.9% on Wednesday . The company traded as low as $10.79 and last traded at $10.79. Approximately 346,667 shares traded hands during mid-day trading, an increase of 11% from the average daily volume of 312,453 shares. The stock had previously closed at $11.84.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $13.25 target price on shares of DRDGOLD in a research report on Friday, October 18th. StockNews.com lowered shares of DRDGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th.

DRDGOLD Trading Down 8.2 %

The business has a 50 day simple moving average of $10.09 and a two-hundred day simple moving average of $9.31.

DRDGOLD Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DRD. EverSource Wealth Advisors LLC boosted 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 valued at $39,000 after buying an additional 1,840 shares during the period. Blue Trust Inc. boosted its stake in DRDGOLD by 4,107.5% in the second quarter. Blue Trust Inc. now owns 6,143 shares of the basic materials company’s stock valued at $50,000 after acquiring an additional 5,997 shares during the period. Thompson Siegel & Walmsley LLC bought a new position in shares of DRDGOLD during the second quarter valued at approximately $86,000. Hennion & Walsh Asset Management Inc. grew its holdings in shares of DRDGOLD by 11.3% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 17,778 shares of the basic materials company’s stock valued at $153,000 after purchasing an additional 1,802 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of DRDGOLD by 270.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 79,277 shares of the basic materials company’s stock worth $683,000 after purchasing an additional 57,875 shares during the period. Institutional investors and hedge funds own 14.70% of the company’s stock.

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.