DRDGOLD (NYSE:DRD) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of DRDGOLD (NYSE:DRD) from a hold rating to a buy rating in a research report report published on Tuesday morning.

DRDGOLD Price Performance

Shares of DRD stock opened at $8.54 on Tuesday. The stock has a 50 day simple moving average of $7.84 and a 200-day simple moving average of $8.14. DRDGOLD has a 12-month low of $6.48 and a 12-month high of $13.85.

DRDGOLD Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, March 21st. Investors of record on Friday, March 8th were paid a $0.1058 dividend. This represents a yield of 5%. The ex-dividend date of this dividend was Thursday, March 7th.

Hedge Funds Weigh In On DRDGOLD

Hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its stake in DRDGOLD by 317,900.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,180 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 3,179 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in DRDGOLD in the 1st quarter valued at approximately $36,000. Systematic Alpha Investments LLC purchased a new position in DRDGOLD in the 3rd quarter valued at approximately $53,000. Squarepoint Ops LLC purchased a new position in DRDGOLD in the 1st quarter valued at approximately $100,000. Finally, BNP Paribas Financial Markets purchased a new position in DRDGOLD in the 4th quarter valued at approximately $91,000. 14.70% of the stock is owned by hedge funds and other institutional investors.

DRDGOLD Company Profile

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.