DRDGOLD Limited (NYSE:DRD) Sees Large Growth in Short Interest

DRDGOLD Limited (NYSE:DRD) was the recipient of a large increase in short interest in February. As of February 13th, there was short interest totaling 659,568 shares, an increase of 25.7% from the January 29th total of 524,749 shares. Based on an average daily volume of 350,284 shares, the days-to-cover ratio is presently 1.9 days. Currently, 0.8% of the company’s stock are short sold. Currently, 0.8% of the company’s stock are short sold. Based on an average daily volume of 350,284 shares, the days-to-cover ratio is presently 1.9 days.

DRDGOLD Trading Down 0.6%

DRDGOLD stock opened at $33.98 on Thursday. DRDGOLD has a one year low of $11.93 and a one year high of $39.37. The stock has a fifty day moving average of $34.52 and a 200 day moving average of $29.02.

DRDGOLD Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, March 13th will be paid a $0.3122 dividend. This represents a dividend yield of 174.0%. The ex-dividend date is Friday, March 13th.

Institutional Trading of DRDGOLD

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC bought a new position in DRDGOLD in the first quarter worth approximately $1,759,000. Savant Capital LLC bought a new position in DRDGOLD in the 2nd quarter worth $182,000. Connor Clark & Lunn Investment Management Ltd. lifted its position 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 purchasing an additional 49,868 shares in the last quarter. Campbell & CO Investment Adviser LLC grew its holdings in DRDGOLD by 35.1% during the second quarter. Campbell & CO Investment Adviser LLC now owns 77,106 shares of the basic materials company’s stock valued at $1,028,000 after purchasing an additional 20,053 shares during the period. Finally, Rathbones Group PLC increased its position in DRDGOLD by 42.2% in the second quarter. Rathbones Group PLC now owns 23,575 shares of the basic materials company’s stock worth $314,000 after buying an additional 7,000 shares in the last quarter. 14.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on DRD. Zacks Research raised shares of DRDGOLD from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Wall Street Zen raised DRDGOLD from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. HC Wainwright boosted their target price on DRDGOLD to $46.50 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of DRDGOLD in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $46.50.

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.