DRDGOLD (NYSE:DRD) Sets New 12-Month High – Here’s What Happened

Shares of DRDGOLD Limited (NYSE:DRD) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $16.07 and last traded at $16.29, with a volume of 25770 shares. The stock had previously closed at $15.25.

Analyst Ratings Changes

Several brokerages have recently commented on DRD. HC Wainwright lowered their price objective on DRDGOLD from $17.25 to $16.25 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. StockNews.com raised DRDGOLD from a “hold” rating to a “buy” rating in a report on Friday, March 14th.

DRDGOLD Stock Up 5.8 %

The company has a market capitalization of $1.40 billion, a PE ratio of 12.93 and a beta of 0.88. The company’s 50 day moving average is $12.84 and its two-hundred day moving average is $10.96.

DRDGOLD Announces Dividend

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

Hedge Funds Weigh In On DRDGOLD

Several institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings 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 acquiring an additional 1,122 shares in the last quarter. Ameriprise Financial Inc. raised its stake in DRDGOLD by 10.0% during the fourth quarter. Ameriprise Financial Inc. now owns 15,779 shares of the basic materials company’s stock valued at $136,000 after purchasing an additional 1,438 shares in the last quarter. Aquatic Capital Management LLC bought a new position in DRDGOLD during the fourth quarter valued at $25,000. Bank of America Corp DE lifted its position in DRDGOLD by 47.2% during the fourth quarter. Bank of America Corp DE now owns 16,732 shares of the basic materials company’s stock valued at $144,000 after purchasing an additional 5,364 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of DRDGOLD by 9.2% in the 4th quarter. JPMorgan Chase & Co. now owns 101,764 shares of the basic materials company’s stock worth $878,000 after buying an additional 8,558 shares in the last quarter. 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.