DRDGOLD (NYSE:DRD) Reaches New 12-Month High – Should You Buy?

DRDGOLD Limited (NYSE:DRD)’s share price reached a new 52-week high on Thursday . The company traded as high as $17.60 and last traded at $17.17, with a volume of 789637 shares traded. The stock had previously closed at $16.54.

Analysts Set New Price Targets

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

DRDGOLD Trading Up 3.8 %

The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 13.63 and a beta of 0.88. The firm has a 50-day moving average of $13.28 and a 200-day moving average of $11.13.

DRDGOLD Announces Dividend

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

Hedge Funds Weigh In On DRDGOLD

Several hedge funds and other institutional investors have recently bought and sold shares of DRD. Aquatic Capital Management LLC purchased a new stake in shares of DRDGOLD in the 4th quarter valued at $25,000. GAMMA Investing LLC boosted its position in DRDGOLD by 53.0% in 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 in the last quarter. QRG Capital Management Inc. acquired a new stake in shares of DRDGOLD during the 4th quarter worth approximately $98,000. Squarepoint Ops LLC purchased a new position in shares of DRDGOLD during the 4th quarter valued at approximately $110,000. Finally, Virtu Financial LLC acquired a new position in shares of DRDGOLD in the 3rd quarter valued at $119,000. Institutional investors and hedge funds own 14.70% of the company’s stock.

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.