DRDGOLD (NYSE:DRD) Shares Down 9.9% – What’s Next?

DRDGOLD Limited (NYSE:DRD)’s share price dropped 9.9% on Thursday . The stock traded as low as $34.76 and last traded at $35.2910. Approximately 464,873 shares changed hands during mid-day trading, an increase of 33% from the average daily volume of 349,001 shares. The stock had previously closed at $39.18.

Analyst Ratings Changes

Several research firms recently commented on DRD. Wall Street Zen lowered shares of DRDGOLD from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 3rd. Zacks Research raised shares of DRDGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. Weiss Ratings reissued a “buy (b)” rating on shares of DRDGOLD in a research note on Wednesday, January 21st. Finally, HC Wainwright upped their target price on DRDGOLD to $46.50 and gave the company a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

DRDGOLD Stock Performance

The firm’s 50 day moving average is $32.37 and its 200-day moving average is $25.66.

Institutional Investors Weigh In On DRDGOLD

A number of hedge funds and other institutional investors have recently made changes to their positions in DRD. AQR Capital Management LLC purchased a new position in DRDGOLD during the first quarter worth about $1,759,000. GAMMA Investing LLC increased its stake in shares of DRDGOLD by 29.7% during the 2nd quarter. GAMMA Investing LLC now owns 6,422 shares of the basic materials company’s stock valued at $86,000 after acquiring an additional 1,469 shares during the last quarter. U S Global Investors Inc. lifted its holdings in shares of DRDGOLD by 91.3% during the 2nd quarter. U S Global Investors Inc. now owns 265,755 shares of the basic materials company’s stock worth $3,543,000 after acquiring an additional 126,804 shares during the period. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of DRDGOLD in the second quarter worth approximately $291,000. Finally, Kiker Wealth Management LLC purchased a new stake in DRDGOLD in the second quarter valued at approximately $142,000. Hedge funds and other institutional investors own 14.70% of the company’s stock.

DRDGOLD Company Profile

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.