DRDGOLD (NYSE:DRD) Shares Gap Up – What’s Next?

DRDGOLD Limited (NYSE:DRD) shares gapped up prior to trading on Monday . The stock had previously closed at $14.13, but opened at $14.52. DRDGOLD shares last traded at $14.47, with a volume of 78,178 shares changing hands.

Wall Street Analyst Weigh In

DRD has been the topic of a number of recent research reports. StockNews.com downgraded DRDGOLD from a “buy” rating to a “hold” rating in a research report on Tuesday, May 13th. HC Wainwright lowered their price target on DRDGOLD from $17.25 to $16.25 and set a “buy” rating on the stock in a research report on Wednesday, February 19th.

DRDGOLD Price Performance

The business has a 50-day simple moving average of $14.80 and a two-hundred day simple moving average of $11.75. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 11.47 and a beta of 0.40.

DRDGOLD Dividend Announcement

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

Hedge Funds Weigh In On DRDGOLD

Several institutional investors and hedge funds have recently made changes to their positions in DRD. American Century Companies Inc. grew its position in shares of DRDGOLD by 72.9% in the fourth quarter. American Century Companies Inc. now owns 891,105 shares of the basic materials company’s stock valued at $7,690,000 after purchasing an additional 375,705 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new position in shares of DRDGOLD in the fourth quarter valued at approximately $1,449,000. U S Global Investors Inc. acquired a new position in shares of DRDGOLD in the first quarter valued at approximately $2,150,000. ABC Arbitrage SA acquired a new position in shares of DRDGOLD in the fourth quarter valued at approximately $1,140,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of DRDGOLD in the fourth quarter valued at approximately $1,045,000. Institutional investors and hedge funds own 14.70% of the company’s stock.

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.