Kgabo Moloto Sells 11,586 Shares of DRDGOLD (NYSE:DRD) Stock

DRDGOLD Limited (NYSE:DRD) insider Kgabo Moloto sold 11,586 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $2.75, for a total value of $31,861.50. Following the transaction, the insider owned 11,586 shares in the company, valued at $31,861.50. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

DRDGOLD Stock Performance

Shares of DRD opened at $28.54 on Friday. DRDGOLD Limited has a fifty-two week low of $19.47 and a fifty-two week high of $39.37. The firm’s 50-day simple moving average is $23.69 and its two-hundred day simple moving average is $27.09.

DRDGOLD (NYSE:DRD) last released its quarterly earnings data on Wednesday, August 19th. The basic materials company reported $0.83 earnings per share for the quarter. The firm had revenue of $188.03 million for the quarter. As a group, equities analysts expect that DRDGOLD Limited will post 3.12 earnings per share for the current fiscal year.

DRDGOLD Announces Dividend

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

Analyst Upgrades and Downgrades

DRD has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of DRDGOLD in a research note on Monday, August 3rd. Zacks Research downgraded DRDGOLD from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 4th. HC Wainwright increased 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, Wall Street Zen cut shares of DRDGOLD from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 4th. Two investment analysts have rated the stock with a Buy rating and one has given 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.

Institutional Investors Weigh In On DRDGOLD

A number of institutional investors have recently bought and sold shares of DRD. Banque Cantonale Vaudoise bought a new stake in DRDGOLD during the fourth quarter valued at about $42,000. Farther Finance Advisors LLC boosted its stake in shares of DRDGOLD by 33.5% in the fourth quarter. Farther Finance Advisors LLC now owns 2,256 shares of the basic materials company’s stock worth $70,000 after acquiring an additional 566 shares during the period. Osaic Holdings Inc. boosted its stake in shares of 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 acquiring an additional 713 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of DRDGOLD during the third quarter worth about $102,000. Finally, Smartleaf Asset Management LLC purchased a new stake in shares of DRDGOLD during the fourth quarter worth about $140,000. Hedge funds and other institutional investors own 14.70% of the company’s stock.

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

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.