DRDGOLD (NYSE:DRD) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of DRDGOLD (NYSE:DRD) from a strong-buy rating to a strong sell rating in a research note published on Monday,Zacks.com reports.

A number of other research firms also recently issued reports on DRD. Weiss Ratings reiterated a “buy (b)” rating on shares of DRDGOLD in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of DRDGOLD from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 17th. Finally, HC Wainwright lifted their price target on shares of DRDGOLD to $36.25 and gave the company a “buy” rating in a research report on Friday, October 17th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, DRDGOLD presently has an average rating of “Hold” and an average target price of $36.25.

DRDGOLD Stock Down 2.6%

Shares of NYSE:DRD opened at $25.21 on Monday. The company has a market cap of $2.18 billion, a P/E ratio of 20.00 and a beta of 0.36. DRDGOLD has a 52 week low of $8.38 and a 52 week high of $31.91. The company has a 50-day moving average price of $23.63 and a 200 day moving average price of $17.70.

DRDGOLD Increases Dividend

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

Institutional Trading of DRDGOLD

Hedge funds and other institutional investors have recently bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new stake in DRDGOLD in the 1st quarter worth approximately $39,000. Farther Finance Advisors LLC grew its stake in DRDGOLD by 88.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,690 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 792 shares during the period. Brooklyn Investment Group grew 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 worth $64,000 after acquiring an additional 3,633 shares during the period. GAMMA Investing LLC grew its stake in DRDGOLD by 52.9% in the 1st quarter. GAMMA Investing LLC now owns 4,953 shares of the basic materials company’s stock worth $77,000 after acquiring an additional 1,713 shares during the period. Finally, Osaic Holdings Inc. grew its stake in DRDGOLD by 11.5% in the 2nd quarter. Osaic Holdings Inc. now owns 6,892 shares of the basic materials company’s stock worth $92,000 after acquiring an additional 713 shares during the period. 14.70% of the stock is owned by hedge funds and other institutional investors.

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.