DRDGOLD (NYSE:DRD) Shares Gap Up – Here’s Why

DRDGOLD Limited (NYSE:DRD)’s share price gapped up prior to trading on Monday . The stock had previously closed at $14.83, but opened at $15.28. DRDGOLD shares last traded at $15.43, with a volume of 222,782 shares.

Analyst Ratings Changes

Several research firms have recently weighed in on DRD. StockNews.com upgraded DRDGOLD from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. HC Wainwright lowered their target price on shares of DRDGOLD from $17.25 to $16.25 and set a “buy” rating on the stock in a research note on Wednesday, February 19th.

DRDGOLD Stock Performance

The firm has a market cap of $1.33 billion, a P/E ratio of 12.18 and a beta of 1.09. The business’s 50-day simple moving average is $12.09 and its 200 day simple moving average is $10.68.

DRDGOLD Dividend Announcement

The company also recently disclosed an annual dividend, which was paid on Thursday, March 27th. Investors of record on Friday, March 14th were given a dividend of $0.1628 per share. This represents a yield of 1.8%. The ex-dividend date was Friday, March 14th. DRDGOLD’s dividend payout ratio (DPR) is presently 19.05%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DRD. GAMMA Investing LLC lifted its stake in shares of DRDGOLD by 53.0% in the 4th quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 1,122 shares during the period. QRG Capital Management Inc. bought a new position in DRDGOLD in the fourth quarter worth approximately $98,000. JPMorgan Chase & Co. boosted its stake in shares of DRDGOLD by 11.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 93,206 shares of the basic materials company’s stock worth $899,000 after acquiring an additional 9,765 shares during the last quarter. Blue Trust Inc. grew its position in shares of DRDGOLD by 41.3% during the 4th quarter. Blue Trust Inc. now owns 51,056 shares of the basic materials company’s stock valued at $441,000 after acquiring an additional 14,912 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of DRDGOLD by 15.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 502,100 shares of the basic materials company’s stock worth $4,333,000 after purchasing an additional 66,857 shares in the last quarter. 14.70% of the stock is owned by hedge funds and other institutional investors.

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.