DRDGOLD (NYSE:DRD) Reaches New 1-Year High – What’s Next?

DRDGOLD Limited (NYSE:DRD)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $13.84 and last traded at $13.64, with a volume of 64168 shares trading hands. The stock had previously closed at $13.03.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on DRD shares. StockNews.com lowered DRDGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. HC Wainwright cut their price target on DRDGOLD from $17.25 to $16.25 and set a “buy” rating for the company in a research note on Wednesday, February 19th.

DRDGOLD Stock Performance

The company has a market cap of $1.20 billion, a P/E ratio of 11.01 and a beta of 1.09. The firm has a 50 day moving average price of $10.51 and a two-hundred day moving average price of $10.02.

DRDGOLD Announces Dividend

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DRD. Aquatic Capital Management LLC bought a new position in DRDGOLD in the 4th quarter worth about $25,000. GAMMA Investing LLC boosted its stake in DRDGOLD by 53.0% in the 4th quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 1,122 shares during the period. QRG Capital Management Inc. bought a new position in DRDGOLD in the 4th quarter worth about $98,000. Squarepoint Ops LLC bought a new position in DRDGOLD in the 4th quarter worth about $110,000. Finally, Virtu Financial LLC bought a new position in DRDGOLD in the 3rd quarter worth about $119,000. Institutional investors own 14.70% of the company’s stock.

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.