DRDGOLD (NYSE:DRD) Shares Gap Up – Should You Buy?

Shares of DRDGOLD Limited (NYSE:DRD) gapped up before the market opened on Tuesday . The stock had previously closed at $11.47, but opened at $11.79. DRDGOLD shares last traded at $11.88, with a volume of 190,080 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on DRD shares. StockNews.com raised DRDGOLD from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. HC Wainwright lowered their target price on shares of DRDGOLD from $17.25 to $16.25 and set a “buy” rating on the stock in a research note on Wednesday, February 19th.

DRDGOLD Price Performance

The company has a fifty day moving average of $9.99 and a 200 day moving average of $9.87. The stock has a market cap of $1.07 billion, a P/E ratio of 9.81 and a beta of 1.08.

DRDGOLD Announces Dividend

The company also recently disclosed an annual dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, March 14th will be issued a $0.1628 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a dividend yield of 1.8%. DRDGOLD’s dividend payout ratio (DPR) is 19.05%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Van ECK Associates Corp lifted its holdings in DRDGOLD by 24.2% in the 3rd 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 during the last quarter. American Century Companies Inc. lifted its stake in DRDGOLD by 72.9% during the fourth quarter. American Century Companies Inc. now owns 891,105 shares of the basic materials company’s stock valued at $7,690,000 after purchasing an additional 375,705 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in DRDGOLD by 15.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 502,100 shares of the basic materials company’s stock worth $4,333,000 after buying an additional 66,857 shares in the last quarter. Invesco Ltd. boosted its holdings in DRDGOLD by 8.1% during the fourth quarter. Invesco Ltd. now owns 266,360 shares of the basic materials company’s stock worth $2,299,000 after buying an additional 20,000 shares in the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. bought a new position in shares of DRDGOLD in the fourth quarter valued at $1,449,000. Institutional investors 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.