DRDGOLD (NYSE:DRD) Upgraded at Wall Street Zen

DRDGOLD (NYSE:DRD) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

Several other analysts also recently weighed in on DRD. HC Wainwright lifted their price target on shares of DRDGOLD to $46.50 and gave the company a “buy” rating in a research note on Friday, January 30th. Zacks Research upgraded DRDGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of DRDGOLD in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $46.50.

DRDGOLD Trading Up 5.5%

Shares of DRD opened at $35.90 on Friday. DRDGOLD has a 1-year low of $10.73 and a 1-year high of $39.37. The company has a 50-day moving average of $33.70 and a 200 day moving average of $27.74.

Institutional Investors Weigh In On DRDGOLD

A number of hedge funds have recently made changes to their positions in the stock. Banque Cantonale Vaudoise purchased a new position in DRDGOLD in the fourth quarter valued at about $42,000. Farther Finance Advisors LLC boosted its holdings in shares of DRDGOLD by 88.2% in the 3rd 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 in the last quarter. Osaic Holdings Inc. grew its position in shares of 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 buying an additional 713 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of DRDGOLD during the 3rd quarter worth approximately $102,000. Finally, Blue Trust Inc. raised its stake in shares of DRDGOLD by 21.8% during the 4th quarter. Blue Trust Inc. now owns 4,476 shares of the basic materials company’s stock worth $139,000 after acquiring an additional 800 shares in the last quarter. 14.70% of the stock is currently owned by hedge funds and other institutional investors.

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.