DRDGOLD (NYSE:DRD) Trading 3.5% Higher – Still a Buy?

DRDGOLD Limited (NYSE:DRD) shares were up 3.5% during mid-day trading on Monday . The company traded as high as $11.55 and last traded at $11.39. Approximately 305,685 shares traded hands during trading, an increase of 4% from the average daily volume of 294,718 shares. The stock had previously closed at $11.01.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. HC Wainwright cut their price target on DRDGOLD from $17.25 to $16.25 and set a “buy” rating for the company in a research note on Wednesday, February 19th. StockNews.com raised shares of DRDGOLD from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th.

DRDGOLD Stock Up 4.3 %

The company’s 50-day simple moving average is $9.93 and its 200 day simple moving average is $9.86. The stock has a market capitalization of $992.55 million, a price-to-earnings ratio of 9.11 and a beta of 1.08.

DRDGOLD Dividend Announcement

The business also recently disclosed an annual dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.1628 per share. This represents a dividend yield of 1.8%. The ex-dividend date is Friday, March 14th. DRDGOLD’s dividend payout ratio is 19.05%.

Institutional Investors Weigh In On DRDGOLD

A number of large investors have recently added to or reduced their stakes in the stock. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. bought a new position in shares of DRDGOLD in the fourth quarter valued at approximately $276,000. Public Employees Retirement System of Ohio raised its holdings in DRDGOLD by 26.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 56,592 shares of the basic materials company’s stock worth $488,000 after acquiring an additional 11,921 shares during the period. GTS Securities LLC bought a new position in DRDGOLD in the 4th quarter worth $170,000. Squarepoint Ops LLC acquired a new position in DRDGOLD during the 4th quarter worth $110,000. Finally, Millennium Management LLC boosted its holdings in DRDGOLD by 61.7% during the fourth quarter. Millennium Management LLC now owns 53,669 shares of the basic materials company’s stock valued at $463,000 after acquiring an additional 20,475 shares during the period. 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.