DRDGOLD (NYSE:DRD) Hits New 52-Week High – Time to Buy?

Shares of DRDGOLD Limited (NYSE:DRD) reached a new 52-week high during trading on Monday . The company traded as high as $33.99 and last traded at $33.68, with a volume of 163090 shares traded. The stock had previously closed at $31.24.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. HC Wainwright increased their price objective on shares of DRDGOLD to $36.25 and gave the company a “buy” rating in a report on Friday, October 17th. Wall Street Zen upgraded DRDGOLD from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Zacks Research upgraded DRDGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of DRDGOLD in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, DRDGOLD presently has an average rating of “Moderate Buy” and a consensus target price of $36.25.

DRDGOLD Trading Up 1.2%

The stock’s fifty day moving average is $28.19 and its two-hundred day moving average is $21.81.

Hedge Funds Weigh In On DRDGOLD

A number of hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its holdings in shares of DRDGOLD by 88.2% during the third quarter. Farther Finance Advisors LLC now owns 1,690 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 792 shares during the last quarter. GAMMA Investing LLC increased its stake in DRDGOLD by 29.7% in the 2nd quarter. GAMMA Investing LLC now owns 6,422 shares of the basic materials company’s stock worth $86,000 after purchasing an additional 1,469 shares in the last quarter. Osaic Holdings Inc. raised its holdings in DRDGOLD by 11.5% during the 2nd quarter. Osaic Holdings Inc. now owns 6,892 shares of the basic materials company’s stock worth $92,000 after buying an additional 713 shares during the period. BNP Paribas Financial Markets purchased a new stake in DRDGOLD during the third quarter valued at about $102,000. Finally, Kiker Wealth Management LLC purchased a new stake in DRDGOLD during the second quarter valued at about $142,000. 14.70% of the stock is currently owned by institutional investors and hedge funds.

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.