DRDGOLD (NYSE:DRD) Sees Unusually-High Trading Volume – Here’s Why

Shares of DRDGOLD Limited (NYSE:DRD) saw an uptick in trading volume on Monday . 391,257 shares traded hands during trading, an increase of 20% from the previous session’s volume of 325,759 shares.The stock last traded at $15.98 and had previously closed at $16.14.

Analysts Set New Price Targets

Several research analysts have weighed in on DRD shares. StockNews.com raised shares of DRDGOLD from a “hold” rating to a “buy” rating in a report on Friday, March 14th. HC Wainwright lowered their price objective on DRDGOLD from $17.25 to $16.25 and set a “buy” rating for the company in a report on Wednesday, February 19th.

DRDGOLD Price Performance

The business’s fifty day simple moving average is $13.16 and its 200 day simple moving average is $11.09. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 13.12 and a beta of 0.88.

DRDGOLD Announces Dividend

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

Institutional Investors Weigh In On DRDGOLD

Several institutional investors and hedge funds have recently bought and sold shares of DRD. Public Employees Retirement System of Ohio bought a new position in shares of DRDGOLD during the third quarter valued at approximately $431,000. Virtu Financial LLC acquired a new stake in DRDGOLD in the third quarter worth $119,000. JPMorgan Chase & Co. lifted its stake in DRDGOLD by 11.7% in the third quarter. JPMorgan Chase & Co. now owns 93,206 shares of the basic materials company’s stock valued at $899,000 after buying an additional 9,765 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of DRDGOLD by 53.0% during the fourth quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 1,122 shares during the period. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of DRDGOLD during the fourth quarter worth about $176,000. Institutional investors and hedge funds 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.