DRDGOLD (NYSE:DRD) Trading Up 7% Following Analyst Upgrade

DRDGOLD Limited (NYSE:DRD)’s stock price was up 7% during trading on Tuesday after HC Wainwright raised their price target on the stock from $18.75 to $30.50. HC Wainwright currently has a buy rating on the stock. DRDGOLD traded as high as $28.49 and last traded at $28.40. Approximately 221,822 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 504,919 shares. The stock had previously closed at $26.53.

A number of other equities research analysts have also 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. Wall Street Zen cut shares of DRDGOLD from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 17th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat.com, DRDGOLD presently has a consensus rating of “Strong Buy” and a consensus price target of $30.50.

Institutional Trading of DRDGOLD

Several large investors have recently modified their holdings of DRD. Ameriprise Financial Inc. grew its position in shares of DRDGOLD by 10.0% in the fourth quarter. Ameriprise Financial Inc. now owns 15,779 shares of the basic materials company’s stock valued at $136,000 after purchasing an additional 1,438 shares during the last quarter. Bank of America Corp DE grew its position in shares of DRDGOLD by 47.2% in 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 purchasing an additional 5,364 shares during the last quarter. Millennium Management LLC grew its position in shares of DRDGOLD by 61.7% in the fourth quarter. Millennium Management LLC now owns 53,669 shares of the basic materials company’s stock valued at $463,000 after purchasing an additional 20,475 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of DRDGOLD in the fourth quarter valued at approximately $110,000. Finally, GTS Securities LLC acquired a new stake in shares of DRDGOLD in the fourth quarter valued at approximately $170,000. 14.70% of the stock is currently owned by institutional investors and hedge funds.

DRDGOLD Price Performance

The firm’s 50-day moving average price is $17.83 and its 200 day moving average price is $15.69. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 21.84 and a beta of 0.36.

DRDGOLD Increases Dividend

The company also recently announced an annual dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 12th were given a dividend of $0.2269 per share. This represents a yield of 202.0%. This is an increase from DRDGOLD’s previous annual dividend of $0.16. The ex-dividend date was Friday, September 12th. DRDGOLD’s dividend payout ratio (DPR) is 28.57%.

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.