DRDGOLD (NYSE:DRD) Insider Sells $14,506.25 in Stock

DRDGOLD Limited (NYSE:DRD) insider Mpho Mashatola sold 5,275 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $2.75, for a total value of $14,506.25. Following the completion of the sale, the insider owned 39,868 shares in the company, valued at approximately $109,637. The trade was a 11.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

DRDGOLD Trading Down 3.6%

NYSE:DRD opened at $28.54 on Friday. DRDGOLD Limited has a twelve month low of $19.47 and a twelve month high of $39.37. The stock has a fifty day simple moving average of $23.69 and a 200-day simple moving average of $27.09.

DRDGOLD (NYSE:DRD) last posted its quarterly earnings results on Wednesday, August 19th. The basic materials company reported $0.83 EPS for the quarter. The company had revenue of $188.03 million during the quarter. Research analysts forecast that DRDGOLD Limited will post 3.12 earnings per share for the current fiscal year.

DRDGOLD Dividend Announcement

The company also recently declared a dividend, which will be paid on Monday, September 21st. Investors of record on Friday, September 11th will be issued a $0.7379 dividend. The ex-dividend date is Friday, September 11th. This represents a dividend yield of 530.0%.

DRDGOLD News Summary

Here are the key news stories impacting DRDGOLD this week:

• Positive Sentiment: Strong year and gold-market exposure: Mining Weekly characterized the past year as “very good” for DRDGOLD, supporting the view that favorable gold prices and operating performance remain important catalysts for the gold-tailings retreatment company. It’s been a very good year for DRDGOLD
• Positive Sentiment: Dividend and analyst support: DRDGOLD declared a $0.7379-per-share dividend payable September 21 to shareholders of record September 11. HC Wainwright also raised its price target to $35 and maintained a Buy rating, while the reported analyst consensus is Hold with a $35 target.
• Positive Sentiment: Institutional accumulation: Several funds increased their holdings during the second quarter, including JPMorgan, Arrowstreet Capital, Jane Street and Bank of America. Institutional investors collectively own about 14.7% of the company, providing some evidence of continued professional-investor interest.
• Neutral Sentiment: Insider sales followed award vesting: CEO Daniel Pretorius, CFO Henriette Hooijer, COO Jacobus Schoeman and other insiders sold shares on September 1 at an average price of $2.75. The transactions followed deferred-award vesting, so they may represent routine tax or liquidity-related sales rather than a negative change in management’s view of the business. The CEO retained nearly 1 million shares after his sale. DRDGOLD stock gains as insider share sales follow deferred award vesting
• Negative Sentiment: Broad insider selling weighs on sentiment: Nine executives and insiders sold approximately 127,494 shares worth $350,609 in total. Several individuals reduced their positions by roughly 45% to 85%, while Zacks Research downgraded the stock to Strong Sell. The breadth of selling could create near-term concern despite the company’s favorable operating trends. DRDGOLD insider selling report

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Zacks Research lowered DRDGOLD from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of DRDGOLD in a research report on Monday, August 3rd. HC Wainwright raised their price target on DRDGOLD from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Finally, Wall Street Zen downgraded DRDGOLD from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, DRDGOLD presently has an average rating of “Hold” and an average price target of $35.00.

Hedge Funds Weigh In On DRDGOLD

Institutional investors have recently bought and sold shares of the business. Banque Cantonale Vaudoise bought a new position in DRDGOLD in the fourth quarter worth approximately $42,000. Farther Finance Advisors LLC increased its holdings in shares of DRDGOLD by 33.5% in the 4th quarter. Farther Finance Advisors LLC now owns 2,256 shares of the basic materials company’s stock valued at $70,000 after acquiring an additional 566 shares during the period. BNP Paribas Financial Markets bought a new position in shares of DRDGOLD in the 3rd quarter worth $102,000. Smartleaf Asset Management LLC bought a new position in shares of DRDGOLD in the 4th quarter worth $140,000. Finally, SG Americas Securities LLC bought a new position in shares of DRDGOLD in the 1st quarter worth $154,000. 14.70% of the stock is 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.