DRDGOLD (NYSE:DRD) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of DRDGOLD (NYSE:DRD) from a hold rating to a buy rating in a research note issued to investors on Tuesday.

DRDGOLD Trading Down 0.4 %

Shares of NYSE DRD opened at $8.48 on Tuesday. The business’s 50 day moving average price is $7.82 and its 200 day moving average price is $8.13. DRDGOLD has a 52 week low of $6.48 and a 52 week high of $13.85.

DRDGOLD Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, March 8th were given a $0.1058 dividend. The ex-dividend date was Thursday, March 7th. This represents a yield of 5%.

Institutional Investors Weigh In On DRDGOLD

Hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its position in DRDGOLD by 317,900.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,180 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 3,179 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in DRDGOLD in the 1st quarter worth approximately $36,000. Systematic Alpha Investments LLC purchased a new stake in DRDGOLD in the 3rd quarter worth approximately $53,000. BNP Paribas Financial Markets purchased a new stake in DRDGOLD in the 4th quarter worth approximately $91,000. Finally, Balyasny Asset Management L.P. purchased a new stake in DRDGOLD in the 4th quarter worth approximately $98,000. Hedge funds and other institutional investors 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.