DRDGOLD (NYSE:DRD) Upgraded at StockNews.com

DRDGOLD (NYSE:DRD) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Separately, HC Wainwright reduced their target price on DRDGOLD from $17.25 to $16.25 and set a “buy” rating for the company in a report on Wednesday.

DRDGOLD Trading Up 1.1 %

Shares of NYSE DRD traded up $0.11 during trading hours on Wednesday, hitting $10.53. The stock had a trading volume of 255,956 shares, compared to its average volume of 240,711. The firm’s 50-day moving average price is $9.62 and its two-hundred day moving average price is $9.75. DRDGOLD has a 52 week low of $6.48 and a 52 week high of $12.70.

Institutional Investors Weigh In On DRDGOLD

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in DRDGOLD by 53.0% in the 4th quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 1,122 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of DRDGOLD by 10.0% during the fourth quarter. Ameriprise Financial Inc. now owns 15,779 shares of the basic materials company’s stock worth $136,000 after buying an additional 1,438 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in shares of DRDGOLD during the fourth quarter worth approximately $25,000. Bank of America Corp DE lifted its holdings in shares of DRDGOLD by 47.2% during the fourth quarter. Bank of America Corp DE now owns 16,732 shares of the basic materials company’s stock worth $144,000 after buying an additional 5,364 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of DRDGOLD by 9.2% during the fourth quarter. JPMorgan Chase & Co. now owns 101,764 shares of the basic materials company’s stock worth $878,000 after buying an additional 8,558 shares during the last quarter. 14.70% of the stock is currently owned by institutional investors and hedge funds.

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.