Blue Trust Inc. Cuts Stock Holdings in DRDGOLD Limited $DRD

Blue Trust Inc. lowered its stake in DRDGOLD Limited (NYSE:DRD) by 52.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,698 shares of the basic materials company’s stock after selling 4,098 shares during the quarter. Blue Trust Inc.’s holdings in DRDGOLD were worth $49,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DRD. GAMMA Investing LLC lifted its position in DRDGOLD by 52.9% in the first quarter. GAMMA Investing LLC now owns 4,953 shares of the basic materials company’s stock valued at $77,000 after purchasing an additional 1,713 shares during the last quarter. Synergy Asset Management LLC lifted its position in DRDGOLD by 18,615.5% in the first quarter. Synergy Asset Management LLC now owns 10,855 shares of the basic materials company’s stock valued at $168,000 after purchasing an additional 10,797 shares during the last quarter. U S Global Investors Inc. bought a new stake in DRDGOLD in the first quarter valued at approximately $2,150,000. D.A. Davidson & CO. bought a new stake in DRDGOLD in the first quarter valued at approximately $350,000. Finally, Banque Cantonale Vaudoise bought a new stake in DRDGOLD in the first quarter valued at approximately $39,000. Institutional investors own 14.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DRD. HC Wainwright boosted their price objective on DRDGOLD to $36.25 and gave the company a “buy” rating in a research report on Friday. Wall Street Zen downgraded DRDGOLD from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 17th. Weiss Ratings restated a “buy (b)” rating on shares of DRDGOLD in a report on Wednesday, October 8th. Finally, Zacks Research upgraded DRDGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. Based on data from MarketBeat, DRDGOLD has a consensus rating of “Buy” and an average target price of $36.25.

DRDGOLD Stock Down 9.9%

Shares of DRD stock opened at $28.54 on Friday. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 22.65 and a beta of 0.36. The business’s fifty day moving average is $22.94 and its 200 day moving average is $17.47. DRDGOLD Limited has a twelve month low of $8.38 and a twelve month high of $31.91.

DRDGOLD Increases Dividend

The company also recently declared an annual dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 12th were paid a $0.2269 dividend. The ex-dividend date of this dividend was Friday, September 12th. This is a positive change from DRDGOLD’s previous annual dividend of $0.16. This represents a yield of 202.0%. DRDGOLD’s payout ratio is currently 29.37%.

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.