DRDGOLD (NYSE:DRD) Stock Rating Upgraded by Zacks Research

by · The Cerbat Gem

DRDGOLD (NYSE:DRD – Get Free Report) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday, Zacks reports.

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

Read Our Latest Stock Analysis on DRD

DRDGOLD Trading Up 2.2%

DRDGOLD stock opened at $25.35 on Monday. The stock has a fifty day moving average price of $26.29 and a 200 day moving average price of $25.53. DRDGOLD has a 52 week low of $19.47 and a 52 week high of $39.37.

DRDGOLD (NYSE:DRD – Get Free Report) last released its earnings results on Wednesday, August 19th. The basic materials company reported $0.83 earnings per share (EPS) for the quarter. The company had revenue of $188.03 million during the quarter. On average, analysts anticipate that DRDGOLD will post 3.12 earnings per share for the current year.

Insider Activity at DRDGOLD

In related news, insider Dean Lindecke sold 20,060 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $2.75, for a total transaction of $55,165.00. Following the transaction, the insider directly owned 20,060 shares of the company’s stock, valued at approximately $55,165. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kgabo Moloto sold 11,586 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 $31,861.50. Following the completion of the transaction, the insider owned 11,586 shares in the company, valued at $31,861.50. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 139,080 shares of company stock worth $382,470. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its stake in shares of DRDGOLD by 58.3% in the first quarter. Renaissance Technologies LLC now owns 349,645 shares of the basic materials company’s stock worth $10,269,000 after buying an additional 128,832 shares during the last quarter. Amundi raised its holdings in DRDGOLD by 9.1% in the 1st quarter. Amundi now owns 507,710 shares of the basic materials company’s stock valued at $14,911,000 after acquiring an additional 42,342 shares in the last quarter. Sei Investments Co. increased its holdings in DRDGOLD by 60.8% in the 1st quarter. Sei Investments Co. now owns 79,738 shares of the basic materials company’s stock valued at $2,342,000 after buying an additional 30,137 shares during the period. U S Global Investors Inc. lifted its stake in DRDGOLD by 10.6% during the first quarter. U S Global Investors Inc. now owns 245,545 shares of the basic materials company’s stock worth $7,212,000 after purchasing an additional 23,512 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its position in shares of DRDGOLD by 259.5% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 28,069 shares of the basic materials company’s stock worth $824,000 after buying an additional 20,261 shares during the period. 14.70% of the stock is owned by institutional investors.

DRDGOLD Company Profile

(Get Free Report)

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.

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