DRDGOLD (NYSE:DRD) Trading Up 4.3% – Should You Buy?

DRDGOLD Limited (NYSE:DRD)’s stock price shot up 4.3% during mid-day trading on Monday . The stock traded as high as $10.55 and last traded at $10.51. 135,050 shares traded hands during trading, a decline of 37% from the average session volume of 213,664 shares. The stock had previously closed at $10.07.

Analysts Set New Price Targets

Separately, HC Wainwright increased their price target on DRDGOLD from $13.25 to $17.25 and gave the company a “buy” rating in a research note on Wednesday, January 22nd.

DRDGOLD Stock Up 4.7 %

The business has a fifty day moving average price of $9.33 and a two-hundred day moving average price of $9.66.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of DRDGOLD by 53.0% in the fourth quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 1,122 shares during the period. U S Global Investors Inc. acquired a new position in shares of DRDGOLD in the third quarter valued at about $2,388,000. Van ECK Associates Corp grew its holdings in DRDGOLD by 24.2% during the third quarter. Van ECK Associates Corp now owns 6,621,470 shares of the basic materials company’s stock worth $63,831,000 after acquiring an additional 1,291,541 shares during the period. Dimensional Fund Advisors LP grew its holdings in DRDGOLD by 270.4% during the second quarter. Dimensional Fund Advisors LP now owns 79,277 shares of the basic materials company’s stock worth $683,000 after acquiring an additional 57,875 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in DRDGOLD by 11.7% during the third quarter. JPMorgan Chase & Co. now owns 93,206 shares of the basic materials company’s stock worth $899,000 after acquiring an additional 9,765 shares during the period. 14.70% of the stock is owned by institutional investors and hedge funds.

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.