DRDGOLD (NYSE:DRD) Rating Lowered to Hold at StockNews.com

DRDGOLD (NYSE:DRDGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

DRD has been the topic of a number of other reports. HC Wainwright upped their price target on DRDGOLD from $18.00 to $18.25 and gave the stock a “buy” rating in a research note on Wednesday, March 30th. Zacks Investment Research downgraded DRDGOLD from a “buy” rating to a “hold” rating in a report on Wednesday, April 6th.

Shares of DRD stock opened at $6.43 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.34 and a current ratio of 5.09. The firm’s 50 day moving average price is $8.92 and its 200-day moving average price is $8.80. DRDGOLD has a one year low of $6.12 and a one year high of $13.18.

A number of hedge funds have recently modified their holdings of the business. Bank of America Corp DE grew its stake in shares of DRDGOLD by 204.0% in the second quarter. Bank of America Corp DE now owns 3,159 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 2,120 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in DRDGOLD in the 1st quarter valued at about $101,000. Virtu Financial LLC purchased a new position in shares of DRDGOLD in the 4th quarter valued at about $93,000. Commonwealth Equity Services LLC acquired a new position in shares of DRDGOLD during the third quarter worth about $98,000. Finally, Legacy Wealth Asset Management LLC purchased a new position in DRDGOLD in the first quarter worth approximately $121,000. 11.29% of the stock is owned by institutional investors.

DRDGOLD Company Profile (Get Rating)

DRDGOLD Limited, a gold mining company, engages in the surface gold tailings retreatment business in South Africa. The company is involved in the exploration, extraction, processing, and smelting activities. It recovers gold from surface tailings in the Witwatersrand basin in Gauteng province. The company was incorporated in 1895 and is headquartered in Johannesburg, South Africa.

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