U S Global Investors Inc. Purchases 126,804 Shares of DRDGOLD Limited $DRD

U S Global Investors Inc. boosted its position in shares of DRDGOLD Limited (NYSE:DRD) by 91.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 265,755 shares of the basic materials company’s stock after buying an additional 126,804 shares during the period. U S Global Investors Inc.’s holdings in DRDGOLD were worth $3,543,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DRD. Bank of America Corp DE boosted its stake in 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 valued at $144,000 after buying an additional 5,364 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of DRDGOLD by 2,264.9% in the 1st quarter. GAMMA Investing LLC now owns 76,623 shares of the basic materials company’s stock valued at $1,185,000 after purchasing an additional 73,383 shares during the last quarter. Synergy Asset Management LLC lifted its stake in shares of DRDGOLD by 18,615.5% in the 1st quarter. Synergy Asset Management LLC now owns 10,855 shares of the basic materials company’s stock valued at $168,000 after purchasing an additional 10,797 shares during the last quarter. D.A. Davidson & CO. bought a new stake in shares of DRDGOLD in the 1st quarter valued at approximately $350,000. Finally, Banque Cantonale Vaudoise bought a new stake in shares of DRDGOLD in the 1st quarter valued at approximately $39,000. 14.70% of the stock is owned by institutional investors.

DRDGOLD Stock Performance

Shares of NYSE DRD opened at $28.71 on Friday. The business’s 50 day moving average price is $21.52 and its 200-day moving average price is $16.94. DRDGOLD Limited has a fifty-two week low of $8.38 and a fifty-two week high of $30.43. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 22.79 and a beta of 0.36.

DRDGOLD Increases Dividend

The firm also recently declared an annual dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 12th were issued a $0.2269 dividend. The ex-dividend date was Friday, September 12th. This is a positive change from DRDGOLD’s previous annual dividend of $0.16. This represents a dividend yield of 202.0%. DRDGOLD’s dividend payout ratio (DPR) is currently 29.37%.

Analyst Upgrades and Downgrades

DRD has been the subject of several analyst reports. Zacks Research raised DRDGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 25th. Wall Street Zen lowered DRDGOLD from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DRDGOLD in a research note on Wednesday. Finally, HC Wainwright raised their price objective on DRDGOLD from $18.75 to $30.50 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, DRDGOLD currently has an average rating of “Buy” and an average target price of $30.50.

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.