DRDGOLD (NYSE:DRD) Shares Gap Up – Time to Buy?

DRDGOLD Limited (NYSE:DRD)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $26.42, but opened at $28.86. DRDGOLD shares last traded at $29.45, with a volume of 99,575 shares changing hands.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Wall Street Zen upgraded shares of DRDGOLD from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of DRDGOLD in a research report on Monday, April 20th. Zacks Research raised shares of DRDGOLD from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 29th. Finally, HC Wainwright raised their target price on shares of DRDGOLD to $46.50 and gave the company a “buy” rating in a research note on Friday, January 30th. One 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 MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $46.50.

DRDGOLD Stock Performance

The company’s 50 day simple moving average is $30.95 and its 200 day simple moving average is $30.93.

DRDGOLD (NYSE:DRD) last announced its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $6.74 earnings per share (EPS) for the quarter. Equities research analysts forecast that DRDGOLD Limited will post 14.22 earnings per share for the current year.

DRDGOLD Announces Dividend

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

Hedge Funds Weigh In On DRDGOLD

Several hedge funds have recently made changes to their positions in DRD. Y Intercept Hong Kong Ltd purchased a new position in DRDGOLD in the 3rd quarter worth about $952,000. Quantbot Technologies LP acquired a new stake in shares of DRDGOLD during the third quarter valued at approximately $862,000. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. raised its holdings in shares of DRDGOLD by 258.8% during the third quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 28,700 shares of the basic materials company’s stock valued at $792,000 after acquiring an additional 20,700 shares during the period. New York State Common Retirement Fund acquired a new stake in shares of DRDGOLD during the third quarter valued at approximately $386,000. Finally, TD Waterhouse Canada Inc. raised its holdings in shares of DRDGOLD by 5,273.3% during the fourth quarter. TD Waterhouse Canada Inc. now owns 22,568 shares of the basic materials company’s stock valued at $699,000 after acquiring an additional 22,148 shares during the period. 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.