DRDGOLD (NYSE:DRD) Hits New 1-Year High – Here’s What Happened

DRDGOLD Limited (NYSE:DRD) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $34.93 and last traded at $34.52, with a volume of 146774 shares trading hands. The stock had previously closed at $33.12.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. HC Wainwright raised their target price on DRDGOLD to $36.25 and gave the company a “buy” rating in a research report on Friday, October 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DRDGOLD in a research note on Wednesday, October 8th. Wall Street Zen lowered DRDGOLD from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 3rd. Finally, Zacks Research upgraded shares of DRDGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.25.

DRDGOLD Stock Up 3.1%

The business’s 50 day moving average price is $30.15 and its 200-day moving average price is $23.81.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its holdings in shares of DRDGOLD by 239.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 989,089 shares of the basic materials company’s stock valued at $27,299,000 after buying an additional 697,840 shares during the period. American Century Companies Inc. grew its position in DRDGOLD by 0.4% in the 2nd quarter. American Century Companies Inc. now owns 945,945 shares of the basic materials company’s stock valued at $12,609,000 after acquiring an additional 4,030 shares in the last quarter. Amundi acquired a new position in DRDGOLD in the 3rd quarter valued at about $17,467,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in DRDGOLD by 1.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 570,807 shares of the basic materials company’s stock worth $15,754,000 after purchasing an additional 6,740 shares during the period. Finally, Millennium Management LLC lifted its position in shares of DRDGOLD by 91.9% during the third quarter. Millennium Management LLC now owns 397,000 shares of the basic materials company’s stock worth $10,957,000 after purchasing an additional 190,152 shares in the last quarter. 14.70% of the stock is currently owned by hedge funds and other institutional investors.

About DRDGOLD

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.