DRDGOLD Limited (NYSE:DRD) Short Interest Up 11.4% in August

DRDGOLD Limited (NYSE:DRD) saw a large growth in short interest in the month of August. As of August 15th, there was short interest totalling 1,170,000 shares, a growth of 11.4% from the July 31st total of 1,050,000 shares. Based on an average trading volume of 281,600 shares, the days-to-cover ratio is currently 4.2 days.

Institutional Investors Weigh In On DRDGOLD

Institutional investors and hedge funds have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd raised its position in shares of DRDGOLD by 141.7% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 35,280 shares of the basic materials company’s stock worth $280,000 after purchasing an additional 20,686 shares during the period. Hennion & Walsh Asset Management Inc. raised its position 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 worth $153,000 after purchasing an additional 1,802 shares during the period. Blue Trust Inc. raised its position in shares of DRDGOLD by 4,107.5% during the second 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 period. National Bank of Canada FI raised its position in shares of DRDGOLD by 6.8% during the fourth quarter. National Bank of Canada FI now owns 176,194 shares of the basic materials company’s stock worth $1,388,000 after purchasing an additional 11,294 shares during the period. Finally, Jump Financial LLC raised its position in shares of DRDGOLD by 102.1% during the fourth quarter. Jump Financial LLC now owns 60,247 shares of the basic materials company’s stock worth $479,000 after purchasing an additional 30,438 shares during the period. 14.70% of the stock is owned by institutional investors and hedge funds.

DRDGOLD Stock Down 1.7 %

Shares of DRDGOLD stock opened at $8.27 on Friday. The firm has a market cap of $715.02 million, a price-to-earnings ratio of 7.95 and a beta of 1.06. The business has a fifty day simple moving average of $9.29 and a 200-day simple moving average of $8.54. DRDGOLD has a fifty-two week low of $6.48 and a fifty-two week high of $10.82.

DRDGOLD Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 26th. Stockholders of record on Friday, September 13th will be issued a $0.1126 dividend. This is a positive change from DRDGOLD’s previous semi-annual dividend of $0.11. The ex-dividend date of this dividend is Friday, September 13th. This represents a dividend yield of 1.9%. DRDGOLD’s dividend payout ratio is 15.38%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. StockNews.com lowered DRDGOLD from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. HC Wainwright cut their price objective on DRDGOLD from $15.50 to $13.25 and set a “buy” rating for the company in a report on Thursday, August 22nd.

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.