DRDGOLD (NYSE:DRD) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

by · The Cerbat Gem

DRDGOLD Limited (NYSE:DRD – Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.36 and traded as high as $30.69. DRDGOLD shares last traded at $29.65, with a volume of 603,883 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. HC Wainwright raised their target price on shares of DRDGOLD to $36.25 and gave the stock a “buy” rating in a report on Friday, October 17th. Wall Street Zen raised DRDGOLD from a “buy” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings reiterated a “buy (b)” rating on shares of DRDGOLD in a research report on Wednesday, October 8th. Finally, Zacks Research raised DRDGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, DRDGOLD currently has an average rating of “Moderate Buy” and a consensus price target of $36.25.

Get Our Latest Analysis on DRD

DRDGOLD Stock Performance

The stock has a 50-day moving average price of $28.00 and a two-hundred day moving average price of $21.46.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Osaic Holdings Inc. lifted its position in shares of DRDGOLD by 11.5% in the second quarter. Osaic Holdings Inc. now owns 6,892 shares of the basic materials company’s stock valued at $92,000 after acquiring an additional 713 shares in the last quarter. Farther Finance Advisors LLC raised its stake in DRDGOLD by 88.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,690 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 792 shares during the period. Merit Financial Group LLC raised its stake in DRDGOLD by 7.0% during the 3rd quarter. Merit Financial Group LLC now owns 12,277 shares of the basic materials company’s stock valued at $339,000 after purchasing an additional 800 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in DRDGOLD by 24.8% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 5,387 shares of the basic materials company’s stock worth $149,000 after purchasing an additional 1,070 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in DRDGOLD by 8.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 16,731 shares of the basic materials company’s stock valued at $462,000 after buying an additional 1,247 shares in the last quarter. Hedge funds and other institutional investors own 14.70% of the company’s stock.

DRDGOLD Company Profile

(Get Free Report)

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.

Featured Articles