DRDGOLD (NYSE:DRD) Stock Bumped Up to Hold by Zacks Research

DRDGOLD (NYSE:DRD) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday, Zacks reports.

Other equities research analysts also recently issued research reports about the company. Wall Street Zen downgraded DRDGOLD from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of DRDGOLD in a research report on Monday, August 3rd. Finally, HC Wainwright increased their price target on shares of DRDGOLD from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

DRDGOLD Trading Up 2.2%

DRDGOLD stock opened at $25.35 on Monday. The business’s 50-day simple moving average is $26.29 and its two-hundred day simple moving average is $25.53. DRDGOLD has a fifty-two week low of $19.47 and a fifty-two week high of $39.37.

DRDGOLD (NYSE:DRD) last announced its quarterly earnings data on Wednesday, August 19th. The basic materials company reported $0.83 earnings per share for the quarter. The firm had revenue of $188.03 million during the quarter. As a group, analysts expect that DRDGOLD will post 3.12 earnings per share for the current fiscal year.

Insider Activity at DRDGOLD

In other DRDGOLD news, CEO Daniel Pretorius sold 35,537 shares of DRDGOLD stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $2.75, for a total transaction of $97,726.75. Following the completion of the transaction, the chief executive officer owned 999,816 shares in the company, valued at approximately $2,749,494. This trade represents a 3.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Dean Lindecke sold 20,060 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $2.75, for a total value of $55,165.00. Following the completion of the transaction, the insider directly owned 20,060 shares of the company’s stock, valued at approximately $55,165. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 139,080 shares of company stock worth $382,470 in the last three months. Company insiders own 1.00% of the company’s stock.

Institutional Trading of DRDGOLD

A number of hedge funds have recently modified their holdings of DRD. Amundi grew its holdings in DRDGOLD by 9.1% during the first quarter. Amundi now owns 507,710 shares of the basic materials company’s stock worth $14,911,000 after acquiring an additional 42,342 shares during the period. Renaissance Technologies LLC raised its position in DRDGOLD by 58.3% during the first quarter. Renaissance Technologies LLC now owns 349,645 shares of the basic materials company’s stock valued at $10,269,000 after acquiring an additional 128,832 shares in the last quarter. U S Global Investors Inc. lifted its holdings in DRDGOLD by 10.6% in the first quarter. U S Global Investors Inc. now owns 245,545 shares of the basic materials company’s stock valued at $7,212,000 after acquiring an additional 23,512 shares during the period. Dimensional Fund Advisors LP lifted its holdings in DRDGOLD by 3.1% in the first quarter. Dimensional Fund Advisors LP now owns 169,473 shares of the basic materials company’s stock valued at $4,973,000 after acquiring an additional 5,019 shares during the period. Finally, Sei Investments Co. lifted its holdings in DRDGOLD by 60.8% in the first quarter. Sei Investments Co. now owns 79,738 shares of the basic materials company’s stock valued at $2,342,000 after acquiring an additional 30,137 shares during the period. Hedge funds and other institutional investors own 14.70% of the company’s stock.

About DRDGOLD

DRDGOLD Limited is a South African gold producer focused on the retreatment of surface mine waste. Rather than operating conventional underground mines, the company processes gold-bearing tailings, sand dumps and slimes dams left by historical mining activities, recovering gold and reducing the environmental footprint of legacy mine waste.

DRDGOLD’s principal operations are the Ergo and Far West Gold Recoveries (FWGR) businesses. Ergo processes surface material from areas around Johannesburg and the East Rand, while FWGR operates on the West Rand and Far West Rand.