DRDGOLD Limited (NYSE:DRD) Sees Large Decline in Short Interest

DRDGOLD Limited (NYSE:DRD) was the target of a large decline in short interest in January. As of January 31st, there was short interest totalling 1,650,000 shares, a decline of 7.3% from the January 15th total of 1,780,000 shares. Based on an average daily volume of 237,000 shares, the days-to-cover ratio is currently 7.0 days.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright lifted their price objective on shares of DRDGOLD from $13.25 to $17.25 and gave the company a “buy” rating in a report on Wednesday, January 22nd.

Institutional Trading of DRDGOLD

A number of institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. grew its stake in DRDGOLD by 488.4% in the 3rd quarter. Blue Trust Inc. now owns 36,144 shares of the basic materials company’s stock valued at $348,000 after purchasing an additional 30,001 shares during the period. U S Global Investors Inc. bought a new position in DRDGOLD during the third quarter valued at about $2,388,000. Van ECK Associates Corp increased 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 buying an additional 1,291,541 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in DRDGOLD by 12.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 435,243 shares of the basic materials company’s stock worth $4,196,000 after acquiring an additional 48,442 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in DRDGOLD in the third quarter valued at about $431,000. 14.70% of the stock is owned by hedge funds and other institutional investors.

DRDGOLD Trading Up 1.2 %

DRD stock traded up $0.12 during trading on Tuesday, reaching $10.44. The stock had a trading volume of 243,725 shares, compared to its average volume of 240,220. DRDGOLD has a one year low of $6.48 and a one year high of $12.70. The company’s 50 day moving average is $9.61 and its two-hundred day moving average is $9.74.

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.