DRDGOLD (NYSE:DRD) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Shares of DRDGOLD Limited (NYSE:DRD) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $14.82 and traded as high as $21.87. DRDGOLD shares last traded at $21.66, with a volume of 481,650 shares.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Zacks Research raised shares of DRDGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, August 25th. HC Wainwright lifted their price objective on shares of DRDGOLD from $16.25 to $18.75 and gave the stock a “buy” rating in a research note on Thursday, August 21st. Finally, Wall Street Zen cut shares of DRDGOLD from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat.com, DRDGOLD currently has a consensus rating of “Strong Buy” and an average target price of $18.75.

DRDGOLD Price Performance

The firm has a 50 day moving average of $15.70 and a 200-day moving average of $14.82.

DRDGOLD Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 12th will be given a dividend of $0.2269 per share. The ex-dividend date is Friday, September 12th. This represents a yield of 170.0%. This is a positive change from DRDGOLD’s previous annual dividend of $0.16. DRDGOLD’s dividend payout ratio is currently 19.84%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. D.A. Davidson & CO. acquired a new position in shares of DRDGOLD during the first quarter worth $350,000. Ameriprise Financial Inc. increased its holdings in shares of DRDGOLD by 10.0% during the fourth quarter. Ameriprise Financial Inc. now owns 15,779 shares of the basic materials company’s stock worth $136,000 after buying an additional 1,438 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of DRDGOLD by 52.9% during the first quarter. GAMMA Investing LLC now owns 4,953 shares of the basic materials company’s stock worth $77,000 after buying an additional 1,713 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of DRDGOLD by 28.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 103,465 shares of the basic materials company’s stock worth $893,000 after buying an additional 23,138 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of DRDGOLD by 61.7% during the fourth quarter. Millennium Management LLC now owns 53,669 shares of the basic materials company’s stock worth $463,000 after buying an additional 20,475 shares in the last quarter. 14.70% of the stock is currently owned by institutional investors and hedge funds.

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.