DRDGOLD (NYSE:DRD) Sets New 1-Year High – Here’s Why

Shares of DRDGOLD Limited (NYSE:DRD) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $15.75 and last traded at $15.67, with a volume of 641347 shares changing hands. The stock had previously closed at $15.37.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. StockNews.com upgraded DRDGOLD from a “hold” rating to a “buy” rating in a report on Friday, March 14th. HC Wainwright cut their price objective on DRDGOLD from $17.25 to $16.25 and set a “buy” rating for the company in a research report on Wednesday, February 19th.

DRDGOLD Stock Performance

The business has a 50-day moving average of $12.20 and a 200 day moving average of $10.71. The stock has a market cap of $1.35 billion, a PE ratio of 12.44 and a beta of 1.09.

DRDGOLD Announces Dividend

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

Institutional Trading of DRDGOLD

Several hedge funds and other institutional investors have recently bought and sold shares of the company. PKO Investment Management Joint Stock Co acquired a new position in DRDGOLD in the fourth quarter valued at $439,000. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new stake in shares of DRDGOLD during the 4th quarter worth $276,000. Public Employees Retirement System of Ohio boosted its holdings in DRDGOLD by 26.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 56,592 shares of the basic materials company’s stock valued at $488,000 after acquiring an additional 11,921 shares during the last quarter. GTS Securities LLC acquired a new position in DRDGOLD in the fourth quarter valued at $170,000. Finally, Squarepoint Ops LLC acquired a new stake in DRDGOLD during the fourth quarter worth about $110,000. 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.