Goldman Sachs Group Inc. Has $1.16 Million Stock Position in DRDGOLD Limited $DRD

Goldman Sachs Group Inc. reduced its holdings in shares of DRDGOLD Limited (NYSE:DRD) by 48.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,260 shares of the basic materials company’s stock after selling 71,059 shares during the quarter. Goldman Sachs Group Inc. owned 0.09% of DRDGOLD worth $1,164,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in DRD. Ameriprise Financial Inc. grew 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 valued at $136,000 after buying an additional 1,438 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of DRDGOLD by 47.2% during the fourth quarter. Bank of America Corp DE now owns 16,732 shares of the basic materials company’s stock valued at $144,000 after buying an additional 5,364 shares during the last quarter. Millennium Management LLC grew 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 valued at $463,000 after buying an additional 20,475 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of DRDGOLD during the fourth quarter valued at about $110,000. Finally, GTS Securities LLC acquired a new position in shares of DRDGOLD during the fourth quarter valued at about $170,000. 14.70% of the stock is currently owned by institutional investors and hedge funds.

DRDGOLD Trading Up 5.1%

DRDGOLD stock opened at $25.65 on Monday. The firm’s 50 day simple moving average is $17.30 and its 200 day simple moving average is $15.51. The firm has a market capitalization of $2.22 billion, a PE ratio of 20.36 and a beta of 0.36. DRDGOLD Limited has a 1-year low of $8.38 and a 1-year high of $26.11.

DRDGOLD Increases Dividend

The business also recently declared an annual dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 12th will be paid a $0.2269 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a yield of 202.0%. This is a boost from DRDGOLD’s previous annual dividend of $0.16. DRDGOLD’s dividend payout ratio is presently 29.37%.

Wall Street Analysts Forecast Growth

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

DRDGOLD 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.