DRDGOLD (NYSE:DRD) Hits New 12-Month High – Should You Buy?

Shares of DRDGOLD Limited (NYSE:DRD) hit a new 52-week high during trading on Thursday . The company traded as high as $15.75 and last traded at $15.67, with a volume of 641347 shares traded. The stock had previously closed at $15.37.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on DRD shares. HC Wainwright lowered their price objective on shares of DRDGOLD from $17.25 to $16.25 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. StockNews.com upgraded shares of DRDGOLD from a “hold” rating to a “buy” rating in a report on Friday, March 14th.

DRDGOLD Trading Down 13.4 %

The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 10.75 and a beta of 1.09. The firm has a fifty day simple moving average of $12.37 and a 200 day simple moving average of $10.78.

DRDGOLD Announces Dividend

The company also recently announced an annual dividend, which was paid on Thursday, March 27th. Investors of record on Friday, March 14th were given a $0.1628 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a yield of 1.8%. DRDGOLD’s dividend payout ratio (DPR) is currently 19.05%.

Hedge Funds Weigh In On DRDGOLD

Hedge funds have recently made changes to their positions in the business. American Century Companies Inc. increased its stake in DRDGOLD by 72.9% in the fourth quarter. American Century Companies Inc. now owns 891,105 shares of the basic materials company’s stock valued at $7,690,000 after acquiring an additional 375,705 shares during the period. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. bought a new stake in shares of DRDGOLD in the 4th quarter valued at approximately $1,449,000. ABC Arbitrage SA acquired a new position in shares of DRDGOLD in the 4th quarter worth approximately $1,140,000. Ashton Thomas Private Wealth LLC bought a new position in shares of DRDGOLD during the 4th quarter worth approximately $1,045,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in DRDGOLD by 15.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 502,100 shares of the basic materials company’s stock valued at $4,333,000 after buying an additional 66,857 shares in the last quarter. Institutional investors and hedge funds own 14.70% of the company’s stock.

About DRDGOLD

DRDGOLD Limited, a gold mining company, engages in the surface gold tailings retreatment business in South Africa. It also involved in the exploration, extraction, processing, and smelting activities. The company recovers gold from surface tailings in the Witwatersrand basin in Gauteng province. DRDGOLD Limited was formerly known as Durban Roodepoort Deep Limited and changed its name to DRDGOLD Limited in 2004.