ABC Arbitrage SA Decreases Stock Position in DRDGOLD Limited $DRD

ABC Arbitrage SA lessened its stake in shares of DRDGOLD Limited (NYSE:DRD) by 50.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,304 shares of the basic materials company’s stock after selling 61,496 shares during the period. ABC Arbitrage SA owned 0.07% of DRDGOLD worth $1,692,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its stake in DRDGOLD by 88.2% during the third quarter. Farther Finance Advisors LLC now owns 1,690 shares of the basic materials company’s stock valued at $47,000 after buying an additional 792 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of DRDGOLD by 11.5% during 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 in the last quarter. Kiker Wealth Management LLC purchased a new stake in shares of DRDGOLD during the 2nd quarter worth approximately $142,000. Savant Capital LLC bought a new position in shares of DRDGOLD during the 2nd quarter valued at approximately $182,000. Finally, QRG Capital Management Inc. purchased a new position in shares of DRDGOLD in the third quarter valued at $218,000. 14.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

DRDGOLD Stock Down 0.8%

DRD opened at $34.82 on Wednesday. The stock’s 50 day moving average price is $32.93 and its 200-day moving average price is $26.75. DRDGOLD Limited has a one year low of $10.17 and a one year high of $39.37.

DRDGOLD Company Profile

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.