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

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

Separately, HC Wainwright decreased their price objective on DRDGOLD from $17.25 to $16.25 and set a “buy” rating on the stock in a research note on Wednesday, February 19th.

DRDGOLD Price Performance

Shares of NYSE DRD opened at $13.93 on Friday. DRDGOLD has a one year low of $7.53 and a one year high of $14.24. The business’s fifty day moving average price is $10.72 and its 200-day moving average price is $10.08. The stock has a market capitalization of $1.20 billion, a PE ratio of 11.06 and a beta of 1.09.

DRDGOLD Announces Dividend

The business also recently disclosed an annual dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, March 14th will be paid a dividend of $0.1628 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a dividend yield of 1.8%. DRDGOLD’s payout ratio is 19.05%.

Institutional Trading of DRDGOLD

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. PKO Investment Management Joint Stock Co bought a new stake in shares of DRDGOLD during the 4th quarter valued at $439,000. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. bought a new position in DRDGOLD in the 4th quarter worth about $276,000. Public Employees Retirement System of Ohio increased its stake in DRDGOLD by 26.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 56,592 shares of the basic materials company’s stock worth $488,000 after acquiring an additional 11,921 shares during the last quarter. GTS Securities LLC bought a new position in DRDGOLD in the 4th quarter worth about $170,000. Finally, Squarepoint Ops LLC bought a new position in DRDGOLD in the 4th quarter worth about $110,000. 14.70% of the stock is currently owned by institutional investors.

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.