DRDGOLD (NYSE:DRD) Shares Down 8.7% – What’s Next?

DRDGOLD Limited (NYSE:DRD)’s stock price fell 8.7% during trading on Friday . The stock traded as low as $29.08 and last traded at $28.93. 374,873 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 532,888 shares. The stock had previously closed at $31.68.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DRD. Wall Street Zen downgraded shares of DRDGOLD from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 17th. HC Wainwright upped their price target on shares of DRDGOLD to $36.25 and gave the stock a “buy” rating in a research report on Friday. Zacks Research upgraded shares of DRDGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 25th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of DRDGOLD in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $36.25.

DRDGOLD Trading Down 9.9%

The stock has a market capitalization of $2.47 billion, a P/E ratio of 22.65 and a beta of 0.36. The company has a fifty day simple moving average of $22.94 and a two-hundred day simple moving average of $17.47.

DRDGOLD Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 12th were issued a dividend of $0.2269 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a yield of 202.0%. This is an increase from DRDGOLD’s previous annual dividend of $0.16. DRDGOLD’s dividend payout ratio (DPR) is presently 29.37%.

Institutional Trading of DRDGOLD

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its holdings in DRDGOLD by 88.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,690 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 792 shares during the last quarter. GAMMA Investing LLC raised its holdings in DRDGOLD by 26.3% during the 3rd quarter. GAMMA Investing LLC now owns 8,113 shares of the basic materials company’s stock worth $224,000 after purchasing an additional 1,691 shares during the last quarter. Osaic Holdings Inc. raised its holdings in DRDGOLD by 11.5% during the 2nd quarter. Osaic Holdings Inc. now owns 6,892 shares of the basic materials company’s stock worth $92,000 after purchasing an additional 713 shares during the last quarter. Orion Porfolio Solutions LLC bought a new stake in shares of DRDGOLD in the 2nd quarter valued at about $274,000. Finally, Bank of America Corp DE increased its stake in shares of DRDGOLD by 138.0% in the 2nd quarter. Bank of America Corp DE now owns 42,846 shares of the basic materials company’s stock valued at $571,000 after acquiring an additional 24,845 shares during the last quarter. 14.70% of the stock is owned by 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.