DRDGOLD (NYSE:DRD) Stock Price Passes Above Two Hundred Day Moving Average – Time to Sell?

DRDGOLD Limited (NYSE:DRD) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $26.61 and traded as high as $35.49. DRDGOLD shares last traded at $35.09, with a volume of 354,960 shares.

Analyst Ratings Changes

DRD has been the topic of a number of research reports. Zacks Research raised DRDGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. Weiss Ratings reissued a “buy (b)” rating on shares of DRDGOLD in a research report on Wednesday, January 21st. Wall Street Zen cut DRDGOLD from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 3rd. Finally, HC Wainwright increased their target price on DRDGOLD to $46.50 and gave the stock a “buy” rating in a report on Friday, January 30th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

DRDGOLD Stock Up 6.4%

The business’s 50 day simple moving average is $32.81 and its two-hundred day simple moving average is $26.61.

Institutional Trading of DRDGOLD

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC bought a new position in DRDGOLD in the 1st quarter worth about $1,759,000. Kiker Wealth Management LLC bought a new position in shares of DRDGOLD in the second quarter valued at approximately $142,000. Savant Capital LLC purchased a new position in DRDGOLD during the second quarter valued at approximately $182,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in DRDGOLD by 9.7% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 564,067 shares of the basic materials company’s stock valued at $7,519,000 after acquiring an additional 49,868 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC increased its holdings in DRDGOLD by 35.1% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 77,106 shares of the basic materials company’s stock worth $1,028,000 after acquiring an additional 20,053 shares during the period. 14.70% of the stock is currently owned by institutional investors.

About DRDGOLD

DRDGOLD (NYSE: DRD) is a South African gold producer focused on the retreatment of surface tailings from historic mining operations on the Witwatersrand Basin. The company recovers fine gold particles from low‐grade tailings using an integrated, carbon‐in‐leach (CIL) processing circuit that is designed to maximize yield and minimize environmental impact. DRDGOLD’s operations are centered on sustainable resource utilization, transforming previously discarded material into saleable gold doré bars.

The company operates two primary tailings retreatment facilities on the West Rand and East Rand of Gauteng Province.