DRDGOLD (NYSE:DRD) Stock Price Down 7.7% – Time to Sell?

DRDGOLD Limited (NYSE:DRD) fell 7.7% during trading on Friday . The stock traded as low as $14.43 and last traded at $14.29. 282,085 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 421,523 shares. The stock had previously closed at $15.48.

Wall Street Analyst Weigh In

Several brokerages have commented on DRD. Wall Street Zen downgraded DRDGOLD from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 1st. HC Wainwright decreased their price objective on DRDGOLD from $17.25 to $16.25 and set a “buy” rating on the stock in a report on Wednesday, February 19th.

DRDGOLD Trading Down 11.3%

The company has a market cap of $1.19 billion, a price-to-earnings ratio of 10.89 and a beta of 0.37. The company has a fifty day moving average price of $15.06 and a two-hundred day moving average price of $12.24.

Institutional Trading of DRDGOLD

Several institutional investors have recently modified their holdings of DRD. Acadian Asset Management LLC acquired a new stake in DRDGOLD in the 1st quarter valued at $2,055,000. AQR Capital Management LLC acquired a new stake in DRDGOLD in the 1st quarter valued at $1,759,000. Vident Advisory LLC boosted its stake in DRDGOLD by 16.1% in the 1st quarter. Vident Advisory LLC now owns 121,104 shares of the basic materials company’s stock valued at $1,874,000 after buying an additional 16,784 shares in the last quarter. Brooklyn Investment Group boosted its stake in DRDGOLD by 769.7% in the 1st quarter. Brooklyn Investment Group now owns 4,105 shares of the basic materials company’s stock valued at $64,000 after buying an additional 3,633 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in DRDGOLD by 5.7% in the 1st quarter. American Century Companies Inc. now owns 941,915 shares of the basic materials company’s stock valued at $14,571,000 after buying an additional 50,810 shares in the last quarter. 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.