DRDGOLD (NYSE:DRD) Shares Gap Up – Here’s Why

DRDGOLD Limited (NYSE:DRD) shares gapped up prior to trading on Monday . The stock had previously closed at $9.23, but opened at $9.62. DRDGOLD shares last traded at $9.74, with a volume of 50,845 shares.

Wall Street Analyst Weigh In

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

DRDGOLD Price Performance

The stock’s 50 day moving average is $10.36 and its 200-day moving average is $9.41.

DRDGOLD Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, September 13th were paid 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 of this dividend was Friday, September 13th. This represents a yield of 1.9%.

Hedge Funds Weigh In On DRDGOLD

A number of hedge funds have recently modified their holdings of the company. Van ECK Associates Corp boosted its position in shares of DRDGOLD by 24.2% during the third quarter. Van ECK Associates Corp now owns 6,621,470 shares of the basic materials company’s stock worth $63,831,000 after acquiring an additional 1,291,541 shares during the last quarter. U S Global Investors Inc. purchased a new stake in shares of DRDGOLD during the third quarter valued at $2,388,000. American Century Companies Inc. grew its position in shares of DRDGOLD by 36.8% during the 2nd quarter. American Century Companies Inc. now owns 679,600 shares of the basic materials company’s stock worth $5,851,000 after buying an additional 182,900 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in DRDGOLD by 270.4% in the second quarter. Dimensional Fund Advisors LP now owns 79,277 shares of the basic materials company’s stock valued at $683,000 after purchasing an additional 57,875 shares during the last quarter. Finally, Marshall Wace LLP grew its position in shares of DRDGOLD by 34.3% in the 2nd quarter. Marshall Wace LLP now owns 208,006 shares of the basic materials company’s stock worth $1,791,000 after buying an additional 53,081 shares during the last quarter. 14.70% of the stock is currently owned by institutional investors.

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.