DRDGOLD (NYSE:DRD) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of DRDGOLD (NYSE:DRD) from a hold rating to a strong-buy rating in a research note released on Wednesday morning,Zacks.com reports.

A number of other brokerages have also weighed in on DRD. Wall Street Zen upgraded shares of DRDGOLD from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. HC Wainwright increased their target price on shares of DRDGOLD to $46.50 and gave the company a “buy” rating in a report on Friday, January 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of DRDGOLD in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $46.50.

DRDGOLD Trading Up 1.7%

Shares of DRDGOLD stock opened at $27.16 on Wednesday. DRDGOLD has a 12 month low of $12.75 and a 12 month high of $39.37. The business’s 50-day moving average price is $31.14 and its 200-day moving average price is $30.93.

DRDGOLD (NYSE:DRD) last released its earnings results on Wednesday, February 18th. The basic materials company reported $6.74 earnings per share for the quarter. As a group, sell-side analysts anticipate that DRDGOLD will post 14.22 earnings per share for the current fiscal year.

DRDGOLD Dividend Announcement

The business also recently disclosed a dividend, which was paid on Monday, March 23rd. Shareholders of record on Friday, March 13th were given a $0.3122 dividend. The ex-dividend date was Friday, March 13th. This represents a yield of 207.0%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DRD. GAMMA Investing LLC increased its position in shares of DRDGOLD by 4.2% in the fourth quarter. GAMMA Investing LLC now owns 8,450 shares of the basic materials company’s stock valued at $262,000 after acquiring an additional 337 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of DRDGOLD by 33.5% during the fourth quarter. Farther Finance Advisors LLC now owns 2,256 shares of the basic materials company’s stock worth $70,000 after purchasing an additional 566 shares during the period. Osaic Holdings Inc. grew its stake in shares of DRDGOLD by 8.1% in the fourth quarter. Osaic Holdings Inc. now owns 7,564 shares of the basic materials company’s stock worth $235,000 after purchasing an additional 570 shares during the last quarter. Merit Financial Group LLC grew its stake in shares of DRDGOLD by 7.0% in the third quarter. Merit Financial Group LLC now owns 12,277 shares of the basic materials company’s stock worth $339,000 after purchasing an additional 800 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in DRDGOLD by 21.8% during the 4th quarter. Blue Trust Inc. now owns 4,476 shares of the basic materials company’s stock valued at $139,000 after purchasing an additional 800 shares during the period. Institutional investors 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.