DRDGOLD (NYSE:DRD) Shares Gap Up to $7.87

DRDGOLD Limited (NYSE:DRD) gapped up before the market opened on Tuesday . The stock had previously closed at $7.87, but opened at $8.11. DRDGOLD shares last traded at $8.03, with a volume of 61,012 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DRD. StockNews.com cut DRDGOLD from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. HC Wainwright lowered their price target on DRDGOLD from $17.00 to $13.25 and set a “buy” rating on the stock in a report on Wednesday, December 13th.

DRDGOLD Stock Up 1.8 %

The firm has a 50 day moving average price of $7.55 and a 200 day moving average price of $8.17.

DRDGOLD Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, March 8th were paid a $0.1058 dividend. The ex-dividend date was Thursday, March 7th. This represents a dividend yield of 5%.

Institutional Investors Weigh In On DRDGOLD

Several hedge funds and other institutional investors have recently modified their holdings of DRD. Jane Street Group LLC purchased a new stake in shares of DRDGOLD in the 3rd quarter worth $863,000. JPMorgan Chase & Co. purchased a new stake in shares of DRDGOLD in the 2nd quarter worth $1,559,000. Goldman Sachs Group Inc. purchased a new stake in shares of DRDGOLD in the 4th quarter worth $959,000. American Century Companies Inc. purchased a new stake in DRDGOLD in the 1st quarter worth $1,057,000. Finally, Portside Wealth Group LLC purchased a new stake in DRDGOLD in the 2nd quarter worth $1,138,000. 14.70% of the stock is currently owned by hedge funds and other 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.