Insider Selling: DRDGOLD (NYSE:DRD) Insider Sells $55,165.00 in Stock

DRDGOLD Limited (NYSE:DRD) insider Dean Lindecke sold 20,060 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $2.75, for a total value of $55,165.00. Following the completion of the sale, the insider directly owned 20,060 shares in the company, valued at $55,165. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

DRDGOLD Price Performance

NYSE DRD opened at $28.54 on Friday. DRDGOLD Limited has a 12 month low of $19.47 and a 12 month high of $39.37. The stock’s fifty day moving average price is $23.69 and its 200-day moving average price is $27.09.

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

DRDGOLD Announces Dividend

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

Hedge Funds Weigh In On DRDGOLD

Several hedge funds and other institutional investors have recently bought and sold shares of DRD. Arrowstreet Capital Limited Partnership boosted its holdings in shares of DRDGOLD by 239.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 989,089 shares of the basic materials company’s stock valued at $27,299,000 after acquiring an additional 697,840 shares during the last quarter. Amundi purchased a new position in shares of DRDGOLD during the third quarter valued at approximately $17,467,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of DRDGOLD by 1.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 570,807 shares of the basic materials company’s stock valued at $15,754,000 after purchasing an additional 6,740 shares during the last quarter. Millennium Management LLC lifted its position in DRDGOLD by 91.9% during the third quarter. Millennium Management LLC now owns 397,000 shares of the basic materials company’s stock valued at $10,957,000 after purchasing an additional 190,152 shares during the period. Finally, Marshall Wace LLP lifted its position in DRDGOLD by 30.2% during the fourth quarter. Marshall Wace LLP now owns 391,702 shares of the basic materials company’s stock valued at $12,147,000 after purchasing an additional 90,863 shares during the period. Institutional investors own 14.70% of the company’s stock.

Key Headlines Impacting 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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on DRD shares. Zacks Research cut shares of DRDGOLD from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 4th. Weiss Ratings restated a “buy (b-)” rating on shares of DRDGOLD in a report on Monday, August 3rd. Wall Street Zen downgraded DRDGOLD from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 4th. Finally, HC Wainwright increased their target price on DRDGOLD from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, DRDGOLD currently has a consensus rating of “Hold” and a consensus price target of $35.00.

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.