DRDGOLD (NYSE:DRD) Upgraded at Zacks Research

Zacks Research upgraded shares of DRDGOLD (NYSE:DRD) from a hold rating to a strong-buy rating in a report published on Thursday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. HC Wainwright raised their price target on DRDGOLD to $46.50 and gave the company a “buy” rating in a research note on Friday, January 30th. Wall Street Zen upgraded shares of DRDGOLD from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of DRDGOLD in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $46.50.

DRDGOLD Trading Up 5.5%

Shares of NYSE DRD opened at $35.90 on Thursday. DRDGOLD has a fifty-two week low of $10.73 and a fifty-two week high of $39.37. The business’s 50 day moving average price is $33.70 and its 200-day moving average price is $27.82.

Institutional Trading of DRDGOLD

Hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC acquired a new position in DRDGOLD in the first quarter valued at about $1,759,000. Savant Capital LLC purchased a new stake in shares of DRDGOLD during the second quarter worth approximately $182,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of 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 worth $7,519,000 after purchasing an additional 49,868 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its holdings in shares of DRDGOLD by 35.1% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 77,106 shares of the basic materials company’s stock valued at $1,028,000 after acquiring an additional 20,053 shares during the last quarter. Finally, Rathbones Group PLC increased its stake in DRDGOLD by 42.2% in the second quarter. Rathbones Group PLC now owns 23,575 shares of the basic materials company’s stock valued at $314,000 after purchasing an additional 7,000 shares during the last quarter. Institutional investors and hedge funds own 14.70% of the company’s stock.

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.