DRDGOLD (NYSE:DRD) Sees Large Volume Increase – Time to Buy?

DRDGOLD Limited (NYSE:DRD) shares saw unusually-strong trading volume on Monday . Approximately 232,798 shares changed hands during mid-day trading, a decline of 28% from the previous session’s volume of 322,743 shares.The stock last traded at $13.69 and had previously closed at $13.89.

Analyst Ratings Changes

DRD has been the topic of several recent research reports. HC Wainwright reduced their price target on DRDGOLD from $17.25 to $16.25 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. StockNews.com upgraded DRDGOLD from a “hold” rating to a “buy” rating in a research report on Friday, March 14th.

DRDGOLD Price Performance

The business’s 50-day moving average price is $11.03 and its two-hundred day moving average price is $10.22. The company has a market capitalization of $1.26 billion, a P/E ratio of 11.54 and a beta of 1.09.

DRDGOLD Dividend Announcement

The firm also recently declared an annual dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, March 14th will be issued a $0.1628 dividend. The ex-dividend date is Friday, March 14th. This represents a dividend yield of 1.8%. DRDGOLD’s dividend payout ratio (DPR) is currently 19.05%.

Hedge Funds Weigh In On DRDGOLD

Institutional investors have recently modified their holdings of the business. Aquatic Capital Management LLC acquired a new stake in DRDGOLD during the 4th quarter worth approximately $25,000. GAMMA Investing LLC raised its holdings in shares of DRDGOLD by 53.0% during the fourth quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 1,122 shares during the period. QRG Capital Management Inc. bought a new stake in DRDGOLD in the 4th quarter valued at $98,000. Squarepoint Ops LLC acquired a new position in DRDGOLD in the 4th quarter worth $110,000. Finally, Virtu Financial LLC bought a new position in DRDGOLD during the 3rd quarter worth about $119,000. Institutional investors own 14.70% of the company’s stock.

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.