DRDGOLD (NYSE:DRD) Shares Gap Up – Here’s What Happened

DRDGOLD Limited (NYSE:DRD) shares gapped up prior to trading on Tuesday . The stock had previously closed at $27.83, but opened at $28.64. DRDGOLD shares last traded at $27.9510, with a volume of 346,697 shares traded.

Wall Street Analyst Weigh In

DRD has been the subject of several recent analyst reports. Wall Street Zen lowered shares of DRDGOLD from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 17th. HC Wainwright lifted their price target on shares of DRDGOLD to $36.25 and gave the stock a “buy” rating in a research note on Friday, October 17th. Zacks Research downgraded shares of DRDGOLD from a “strong-buy” rating to a “strong sell” rating in a report on Monday, October 20th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of DRDGOLD in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, DRDGOLD has a consensus rating of “Hold” and a consensus price target of $36.25.

DRDGOLD Trading Down 0.5%

The firm has a 50-day moving average of $26.51 and a two-hundred day moving average of $19.10.

DRDGOLD Increases Dividend

The firm also recently announced an annual dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 12th were given a dividend of $0.2269 per share. This is a positive change from DRDGOLD’s previous annual dividend of $0.16. The ex-dividend date was Friday, September 12th. This represents a dividend yield of 202.0%.

Institutional Trading of DRDGOLD

Institutional investors have recently modified their holdings of the stock. Banque Cantonale Vaudoise acquired a new position in shares of DRDGOLD during the 1st quarter worth about $39,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of DRDGOLD by 2.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 514,199 shares of the basic materials company’s stock worth $7,955,000 after acquiring an additional 12,099 shares during the last quarter. HighTower Advisors LLC purchased a new stake in shares of DRDGOLD during the first quarter worth approximately $343,000. Rathbones Group PLC raised its stake in DRDGOLD by 15.7% in the 1st quarter. Rathbones Group PLC now owns 16,575 shares of the basic materials company’s stock valued at $256,000 after purchasing an additional 2,250 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in DRDGOLD in the 1st quarter valued at $314,000. 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.