DRDGOLD (NYSE:DRD) Rating Lowered to Hold at Zacks Research

DRDGOLD (NYSE:DRD) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

DRD has been the topic of several other research reports. Wall Street Zen cut shares of DRDGOLD from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings downgraded DRDGOLD from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $46.50.

DRDGOLD Trading Down 2.8%

DRDGOLD stock opened at $21.32 on Monday. DRDGOLD has a 52 week low of $13.17 and a 52 week high of $39.37. The stock has a 50 day moving average of $25.12 and a 200-day moving average of $30.01.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC acquired a new stake in DRDGOLD in the first quarter worth $1,759,000. JPMorgan Chase & Co. increased its holdings in shares of DRDGOLD by 7,065.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 30,093 shares of the basic materials company’s stock worth $401,000 after acquiring an additional 29,673 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of DRDGOLD by 75.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 291,249 shares of the basic materials company’s stock worth $3,882,000 after acquiring an additional 124,831 shares during the period. Jane Street Group LLC lifted its position in DRDGOLD by 174.4% in the 2nd quarter. Jane Street Group LLC now owns 124,255 shares of the basic materials company’s stock valued at $1,656,000 after purchasing an additional 78,978 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in DRDGOLD by 138.0% during 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 purchasing an additional 24,845 shares during the period. Institutional investors and hedge funds own 14.70% of the company’s stock.

About DRDGOLD

DRDGOLD (NYSE: DRD) is a South African gold producer focused on the retreatment of surface tailings from historic mining operations on the Witwatersrand Basin. The company recovers fine gold particles from low‐grade tailings using an integrated, carbon‐in‐leach (CIL) processing circuit that is designed to maximize yield and minimize environmental impact. DRDGOLD’s operations are centered on sustainable resource utilization, transforming previously discarded material into saleable gold doré bars.

The company operates two primary tailings retreatment facilities on the West Rand and East Rand of Gauteng Province.