DRDGOLD (NYSE:DRD) Rating Lowered to “Buy” at Wall Street Zen

DRDGOLD (NYSE:DRD) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

Separately, HC Wainwright lowered their target price on shares of DRDGOLD from $17.25 to $16.25 and set a “buy” rating for the company in a report on Wednesday, February 19th.

DRDGOLD Trading Up 8.1%

NYSE DRD opened at $16.22 on Friday. The firm has a market capitalization of $1.40 billion, a P/E ratio of 12.87 and a beta of 0.40. The business has a fifty day simple moving average of $15.04 and a 200 day simple moving average of $12.10. DRDGOLD has a 12 month low of $7.64 and a 12 month high of $17.60.

Institutional Trading of DRDGOLD

A number of institutional investors and hedge funds have recently modified their holdings of the business. American Century Companies Inc. increased its position in shares of DRDGOLD by 72.9% during the 4th 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. purchased a new stake in DRDGOLD during the fourth quarter worth about $1,449,000. U S Global Investors Inc. purchased a new stake in shares of DRDGOLD during the 1st quarter worth approximately $2,150,000. Acadian Asset Management LLC purchased a new position in DRDGOLD in the 1st quarter valued at approximately $2,055,000. Finally, ABC Arbitrage SA purchased a new position in shares of DRDGOLD in the fourth quarter valued at $1,140,000. 14.70% of the stock is owned by hedge funds and other institutional investors.

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.