DRDGOLD Limited (NYSE:DRD) Short Interest Update

DRDGOLD Limited (NYSE:DRD) was the recipient of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 1,290,000 shares, a decline of 21.3% from the February 13th total of 1,640,000 shares. Currently, 1.5% of the company’s shares are short sold. Based on an average daily volume of 278,500 shares, the days-to-cover ratio is presently 4.6 days.

Institutional Investors Weigh In On DRDGOLD

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its holdings in 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 in the last quarter. QRG Capital Management Inc. acquired a new position in shares of DRDGOLD during the 4th quarter worth approximately $98,000. JPMorgan Chase & Co. increased its position 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 purchasing an additional 9,765 shares during the last quarter. Blue Trust Inc. raised its stake 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 worth $441,000 after purchasing an additional 14,912 shares in the last quarter. Finally, ABC Arbitrage SA acquired a new stake in shares of DRDGOLD in the 4th quarter valued at approximately $1,140,000. 14.70% of the stock is owned by institutional investors.

DRDGOLD Price Performance

DRD traded up $0.35 during trading on Wednesday, reaching $14.87. The company had a trading volume of 554,199 shares, compared to its average volume of 305,357. The company has a market cap of $1.29 billion, a P/E ratio of 11.79 and a beta of 1.09. DRDGOLD has a 12 month low of $7.53 and a 12 month high of $14.86. The business’s fifty day moving average price is $11.03 and its 200 day moving average price is $10.22.

DRDGOLD Announces Dividend

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 paid a $0.1628 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a yield of 1.8%. DRDGOLD’s payout ratio is currently 19.05%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DRD. StockNews.com raised shares of DRDGOLD from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. HC Wainwright decreased their target price on DRDGOLD from $17.25 to $16.25 and set a “buy” rating for the company in a research note on Wednesday, February 19th.

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.