StockNews.com Downgrades DRDGOLD (NYSE:DRD) to Hold

StockNews.com lowered shares of DRDGOLD (NYSE:DRD) from a buy rating to a hold rating in a research report released on Thursday morning.

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

DRDGOLD Price Performance

Shares of DRD opened at $12.69 on Thursday. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 10.07 and a beta of 1.08. DRDGOLD has a fifty-two week low of $7.53 and a fifty-two week high of $13.25. The business’s 50-day moving average is $10.14 and its 200-day moving average is $9.91.

DRDGOLD Dividend Announcement

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

Hedge Funds Weigh In On DRDGOLD

A number of large investors have recently made changes to their positions in the business. American Century Companies Inc. increased its holdings in shares of DRDGOLD by 72.9% in the 4th quarter. American Century Companies Inc. now owns 891,105 shares of the basic materials company’s stock valued at $7,690,000 after purchasing an additional 375,705 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in DRDGOLD by 15.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 502,100 shares of the basic materials company’s stock worth $4,333,000 after buying an additional 66,857 shares during the last quarter. Invesco Ltd. increased its holdings in DRDGOLD by 8.1% in the fourth quarter. Invesco Ltd. now owns 266,360 shares of the basic materials company’s stock worth $2,299,000 after buying an additional 20,000 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new position in DRDGOLD in the fourth quarter worth approximately $1,449,000. Finally, ABC Arbitrage SA acquired a new position in DRDGOLD in the fourth quarter worth approximately $1,140,000. Institutional investors and hedge funds 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.