Zacks Research Downgrades DRDGOLD (NYSE:DRD) to Hold
by Michael Walen · The Markets DailyDRDGOLD (NYSE:DRD – Get Free Report) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.
DRD has been the subject of a number of other research reports. Wall Street Zen downgraded DRDGOLD from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings downgraded shares of DRDGOLD from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, DRDGOLD has an average rating of “Moderate Buy” and an average target price of $46.50.
View Our Latest Stock Analysis on DRD
DRDGOLD Stock Performance
DRDGOLD stock opened at $21.32 on Monday. DRDGOLD has a 52 week low of $13.17 and a 52 week high of $39.37. The business has a 50-day simple moving average of $25.12 and a 200 day simple moving average of $30.01.
Institutional Trading of DRDGOLD
Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of DRDGOLD by 4.2% during the fourth quarter. GAMMA Investing LLC now owns 8,450 shares of the basic materials company’s stock valued at $262,000 after buying an additional 337 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in DRDGOLD by 33.5% during the 4th quarter. Farther Finance Advisors LLC now owns 2,256 shares of the basic materials company’s stock valued at $70,000 after acquiring an additional 566 shares during the period. Osaic Holdings Inc. grew its position in DRDGOLD by 8.1% during the 4th quarter. Osaic Holdings Inc. now owns 7,564 shares of the basic materials company’s stock worth $235,000 after acquiring an additional 570 shares during the last quarter. Blue Trust Inc. increased its stake in DRDGOLD by 21.8% in the 4th quarter. Blue Trust Inc. now owns 4,476 shares of the basic materials company’s stock worth $139,000 after purchasing an additional 800 shares during the period. Finally, Merit Financial Group LLC increased its stake in DRDGOLD by 7.0% in the 3rd quarter. Merit Financial Group LLC now owns 12,277 shares of the basic materials company’s stock worth $339,000 after purchasing an additional 800 shares during the period. 14.70% of the stock is currently owned by hedge funds and other institutional investors.
DRDGOLD Company Profile
DRDGOLD (NYSE: DRD) is a South African gold producer focused on the retreatment of surface tailings from historic mining operations on the Witwatersrand Basin. The company recovers fine gold particles from low‐grade tailings using an integrated, carbon‐in‐leach (CIL) processing circuit that is designed to maximize yield and minimize environmental impact. DRDGOLD’s operations are centered on sustainable resource utilization, transforming previously discarded material into saleable gold doré bars.
The company operates two primary tailings retreatment facilities on the West Rand and East Rand of Gauteng Province.