DRDGOLD (NYSE:DRD) Trading Up 6% – Time to Buy?

DRDGOLD Limited (NYSE:DRD) rose 6% during mid-day trading on Thursday . The company traded as high as $15.11 and last traded at $15.02. Approximately 204,014 shares traded hands during trading, a decline of 37% from the average daily volume of 323,863 shares. The stock had previously closed at $14.17.

Analysts Set New Price Targets

Several analysts have commented on the company. HC Wainwright decreased 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. StockNews.com upgraded DRDGOLD from a “hold” rating to a “buy” rating in a research report on Friday, March 14th.

DRDGOLD Stock Performance

The company has a market capitalization of $1.33 billion, a PE ratio of 12.23 and a beta of 0.88. The firm’s 50-day simple moving average is $12.75 and its 200 day simple moving average is $10.93.

DRDGOLD Announces Dividend

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

Institutional Investors Weigh In On DRDGOLD

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of DRDGOLD by 53.0% during 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 last quarter. Ameriprise Financial Inc. lifted its position in DRDGOLD by 10.0% during the fourth quarter. Ameriprise Financial Inc. now owns 15,779 shares of the basic materials company’s stock worth $136,000 after buying an additional 1,438 shares during the period. Aquatic Capital Management LLC purchased a new stake in DRDGOLD in the 4th quarter valued at about $25,000. Bank of America Corp DE increased its stake in shares of DRDGOLD by 47.2% during the 4th quarter. Bank of America Corp DE now owns 16,732 shares of the basic materials company’s stock valued at $144,000 after acquiring an additional 5,364 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in DRDGOLD by 9.2% in the fourth quarter. JPMorgan Chase & Co. now owns 101,764 shares of the basic materials company’s stock valued at $878,000 after purchasing an additional 8,558 shares during the period. Hedge funds and other 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.