DRDGOLD (NYSE:DRD) Insider Henry Gouws Sells 16,826 Shares of Stock

DRDGOLD Limited (NYSE:DRD) insider Henry Gouws sold 16,826 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $2.75, for a total value of $46,271.50. Following the completion of the transaction, the insider directly owned 3,050 shares in the company, valued at $8,387.50. The trade was a 84.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

DRDGOLD Stock Up 4.9%

Shares of DRD stock opened at $29.69 on Friday. DRDGOLD Limited has a 12 month low of $19.47 and a 12 month high of $39.37. The company has a 50 day simple moving average of $23.54 and a two-hundred day simple moving average of $27.08.

DRDGOLD (NYSE:DRD) last posted its quarterly earnings data on Wednesday, August 19th. The basic materials company reported $0.83 EPS for the quarter. The company had revenue of $188.03 million during the quarter. On average, research analysts expect that DRDGOLD Limited will post 3.12 earnings per share for the current fiscal year.

DRDGOLD Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Monday, September 21st. Stockholders of record on Friday, September 11th will be paid a $0.7379 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a dividend yield of 530.0%.

DRDGOLD News Summary

Here are the key news stories impacting DRDGOLD this week:

• Positive Sentiment: A Mining Weekly article describes the past year as “very good” for DRDGOLD, reinforcing the view that strong gold-market conditions and the company’s operating performance have supported investor interest. It’s been a very good year for DRDGOLD
• Negative Sentiment: Multiple executives and insiders collectively sold 139,080 shares for approximately $382,471 at an average price of $2.75 on September 1. The sales included CEO Daniel Pretorius, CFO Henriette Hooijer, COO Jacobus Schoeman and several other insiders. While these transactions may reflect scheduled or personal portfolio decisions rather than a change in company fundamentals, their breadth—and several large reductions in individual holdings—could pressure sentiment and limit the stock’s upside in the near term. SEC insider transaction filings

Analysts Set New Price Targets

A number of research analysts recently commented on DRD shares. Wall Street Zen cut DRDGOLD from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of DRDGOLD in a research report on Monday, August 3rd. HC Wainwright boosted their target price on shares of DRDGOLD from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Finally, Zacks Research lowered shares of DRDGOLD from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 4th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $35.00.

Institutional Investors Weigh In On DRDGOLD

A number of hedge funds have recently made changes to their positions in DRD. Arrowstreet Capital Limited Partnership boosted its stake in DRDGOLD by 239.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 989,089 shares of the basic materials company’s stock valued at $27,299,000 after buying an additional 697,840 shares during the last quarter. Amundi bought a new stake in DRDGOLD in the 3rd quarter worth approximately $17,467,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in DRDGOLD by 1.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 570,807 shares of the basic materials company’s stock worth $15,754,000 after acquiring an additional 6,740 shares during the last quarter. Millennium Management LLC raised its holdings in shares of DRDGOLD by 91.9% during the 3rd quarter. Millennium Management LLC now owns 397,000 shares of the basic materials company’s stock worth $10,957,000 after acquiring an additional 190,152 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of DRDGOLD by 30.2% during the 4th quarter. Marshall Wace LLP now owns 391,702 shares of the basic materials company’s stock worth $12,147,000 after acquiring an additional 90,863 shares in the last quarter. 14.70% of the stock is currently owned by hedge funds and other institutional investors.

DRDGOLD Company Profile

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.