DRDGOLD (NYSE:DRD) Shares Up 2.6% – Still a Buy?

DRDGOLD Limited (NYSE:DRD) shares were up 2.6% on Wednesday . The company traded as high as $8.94 and last traded at $8.94. Approximately 57,575 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 151,678 shares. The stock had previously closed at $8.71.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $13.25 target price on shares of DRDGOLD in a report on Friday, October 18th. StockNews.com downgraded DRDGOLD from a “buy” rating to a “hold” rating in a report on Thursday, September 26th.

DRDGOLD Stock Up 2.2 %

The firm’s fifty day moving average price is $9.53 and its 200-day moving average price is $9.60. The stock has a market cap of $801.47 million, a P/E ratio of 8.75 and a beta of 1.05.

Hedge Funds Weigh In On DRDGOLD

Several hedge funds have recently made changes to their positions in DRD. Van ECK Associates Corp boosted its holdings in DRDGOLD by 24.2% in the third quarter. Van ECK Associates Corp now owns 6,621,470 shares of the basic materials company’s stock valued at $63,831,000 after acquiring an additional 1,291,541 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of DRDGOLD by 36.8% during the 2nd quarter. American Century Companies Inc. now owns 679,600 shares of the basic materials company’s stock worth $5,851,000 after acquiring an additional 182,900 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of DRDGOLD by 12.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 435,243 shares of the basic materials company’s stock worth $4,196,000 after acquiring an additional 48,442 shares in the last quarter. U S Global Investors Inc. purchased a new position in shares of DRDGOLD in the 3rd quarter valued at approximately $2,388,000. Finally, Marshall Wace LLP boosted its position in shares of DRDGOLD by 34.3% during the second quarter. Marshall Wace LLP now owns 208,006 shares of the basic materials company’s stock valued at $1,791,000 after purchasing an additional 53,081 shares in the last quarter. 14.70% of the stock is owned by hedge funds and other 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.