Insider Selling: DRDGOLD (NYSE:DRD) Insider Sells $15,097.50 in Stock

DRDGOLD Limited (NYSE:DRD) insider Ryno Bornman sold 5,490 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $2.75, for a total transaction of $15,097.50. Following the completion of the sale, the insider owned 6,708 shares of the company’s stock, valued at approximately $18,447. This trade represents a 45.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

DRDGOLD Price Performance

DRDGOLD stock opened at $28.54 on Friday. DRDGOLD Limited has a 52 week low of $19.47 and a 52 week high of $39.37. The company’s 50 day moving average price is $23.69 and its two-hundred day moving average price is $27.09.

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

DRDGOLD Dividend Announcement

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

Analyst Ratings Changes

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

Trending Headlines about DRDGOLD

Here are the key news stories impacting DRDGOLD this week:

• Positive Sentiment: Strong year and gold-market exposure: Mining Weekly characterized the past year as “very good” for DRDGOLD, supporting the view that favorable gold prices and operating performance remain important catalysts for the gold-tailings retreatment company. It’s been a very good year for DRDGOLD
• Positive Sentiment: Dividend and analyst support: DRDGOLD declared a $0.7379-per-share dividend payable September 21 to shareholders of record September 11. HC Wainwright also raised its price target to $35 and maintained a Buy rating, while the reported analyst consensus is Hold with a $35 target.
• Positive Sentiment: Institutional accumulation: Several funds increased their holdings during the second quarter, including JPMorgan, Arrowstreet Capital, Jane Street and Bank of America. Institutional investors collectively own about 14.7% of the company, providing some evidence of continued professional-investor interest.
• Neutral Sentiment: Insider sales followed award vesting: CEO Daniel Pretorius, CFO Henriette Hooijer, COO Jacobus Schoeman and other insiders sold shares on September 1 at an average price of $2.75. The transactions followed deferred-award vesting, so they may represent routine tax or liquidity-related sales rather than a negative change in management’s view of the business. The CEO retained nearly 1 million shares after his sale. DRDGOLD stock gains as insider share sales follow deferred award vesting
• Negative Sentiment: Broad insider selling weighs on sentiment: Nine executives and insiders sold approximately 127,494 shares worth $350,609 in total. Several individuals reduced their positions by roughly 45% to 85%, while Zacks Research downgraded the stock to Strong Sell. The breadth of selling could create near-term concern despite the company’s favorable operating trends. DRDGOLD insider selling report

Institutional Investors Weigh In On DRDGOLD

A number of hedge funds have recently modified their holdings of DRD. Banque Cantonale Vaudoise purchased a new position in DRDGOLD in the fourth quarter valued at approximately $42,000. Farther Finance Advisors LLC grew its holdings in DRDGOLD by 33.5% during the fourth quarter. Farther Finance Advisors LLC now owns 2,256 shares of the basic materials company’s stock valued at $70,000 after purchasing an additional 566 shares during the period. Osaic Holdings Inc. increased its position in DRDGOLD by 11.5% in the second quarter. Osaic Holdings Inc. now owns 6,892 shares of the basic materials company’s stock worth $92,000 after buying an additional 713 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in DRDGOLD in the third quarter worth $102,000. Finally, Smartleaf Asset Management LLC bought a new stake in shares of DRDGOLD in the fourth quarter valued at $140,000. Institutional investors 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.