DRDGOLD (NYSE:DRD) Sees Strong Trading Volume – Time to Buy?

Shares of DRDGOLD Limited (NYSE:DRD) saw unusually-high trading volume on Monday . Approximately 232,798 shares were traded during mid-day trading, a decline of 28% from the previous session’s volume of 322,743 shares.The stock last traded at $13.69 and had previously closed at $13.89.

Analysts Set New Price Targets

DRD has been the topic of a number of recent research reports. HC Wainwright cut their target price on shares of DRDGOLD from $17.25 to $16.25 and set a “buy” rating on the stock in a report on Wednesday, February 19th. StockNews.com upgraded shares of DRDGOLD from a “hold” rating to a “buy” rating in a research note on Friday.

DRDGOLD Stock Down 2.6 %

The firm’s 50 day simple moving average is $10.82 and its 200 day simple moving average is $10.14. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 10.73 and a beta of 1.09.

DRDGOLD Announces Dividend

The company also recently declared an annual dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, March 14th will be paid a $0.1628 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a dividend yield of 1.8%. DRDGOLD’s payout ratio is currently 19.05%.

Institutional Investors Weigh In On DRDGOLD

Large investors have recently made changes to their positions in the company. Aquatic Capital Management LLC acquired a new stake in shares of DRDGOLD in the fourth quarter valued at approximately $25,000. GAMMA Investing LLC increased its stake in shares of DRDGOLD by 53.0% during the fourth quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 1,122 shares during the period. QRG Capital Management Inc. acquired a new position in shares of DRDGOLD during the fourth quarter valued at approximately $98,000. Squarepoint Ops LLC acquired a new position in shares of DRDGOLD during the fourth quarter valued at approximately $110,000. Finally, Virtu Financial LLC acquired a new position in shares of DRDGOLD during the third quarter valued at approximately $119,000. Institutional investors and hedge funds own 14.70% of the company’s stock.

DRDGOLD Company Profile

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.