DRDGOLD (NYSE:DRD) Shares Gap Up to $7.87

Shares of DRDGOLD Limited (NYSE:DRD) gapped up before the market opened on Tuesday . The stock had previously closed at $7.87, but opened at $8.11. DRDGOLD shares last traded at $8.03, with a volume of 61,012 shares traded.

Analyst Ratings Changes

Several research analysts recently weighed in on DRD shares. HC Wainwright reduced their price target on shares of DRDGOLD from $17.00 to $13.25 and set a “buy” rating for the company in a research report on Wednesday, December 13th. StockNews.com downgraded shares of DRDGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st.

DRDGOLD Stock Performance

The firm’s 50-day moving average is $7.55 and its two-hundred day moving average is $8.17.

DRDGOLD Cuts Dividend

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

Institutional Trading of DRDGOLD

A number of hedge funds have recently bought and sold shares of DRD. Tower Research Capital LLC TRC raised its holdings 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 valued at $25,000 after acquiring an additional 3,179 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in DRDGOLD in the 1st quarter valued at about $36,000. Systematic Alpha Investments LLC acquired a new stake in DRDGOLD in the 3rd quarter valued at about $53,000. BNP Paribas Financial Markets acquired a new stake in DRDGOLD in the 4th quarter valued at about $91,000. Finally, Balyasny Asset Management L.P. acquired a new stake in DRDGOLD in the 4th quarter valued at about $98,000. 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.