DRDGOLD (NYSE:DRD) Shares Gap Up – Time to Buy?

Shares of DRDGOLD Limited (NYSE:DRD) gapped up prior to trading on Friday . The stock had previously closed at $10.23, but opened at $10.51. DRDGOLD shares last traded at $10.64, with a volume of 49,075 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. HC Wainwright lowered their target price on shares of DRDGOLD from $15.50 to $13.25 and set a “buy” rating for the company in a report on Thursday, August 22nd. StockNews.com lowered shares of DRDGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th.

DRDGOLD Stock Performance

The company’s 50 day moving average is $9.14 and its 200 day moving average is $8.87.

DRDGOLD Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, September 13th were issued a dividend of $0.1126 per share. This is an increase from DRDGOLD’s previous semi-annual dividend of $0.11. The ex-dividend date was Friday, September 13th. This represents a yield of 1.9%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its stake in DRDGOLD by 68.4% in the second quarter. EverSource Wealth Advisors LLC now owns 4,529 shares of the basic materials company’s stock valued at $39,000 after buying an additional 1,840 shares in the last quarter. Blue Trust Inc. lifted its position in DRDGOLD by 4,107.5% during the second quarter. Blue Trust Inc. now owns 6,143 shares of the basic materials company’s stock worth $50,000 after purchasing an additional 5,997 shares during the period. Thompson Siegel & Walmsley LLC acquired a new stake in shares of DRDGOLD during the 2nd quarter worth approximately $86,000. Hennion & Walsh Asset Management Inc. bought a new position in shares of DRDGOLD in the 1st quarter valued at $131,000. Finally, Creekmur Asset Management LLC bought a new position in DRDGOLD in the 4th quarter valued at approximately $216,000. Institutional investors and hedge funds own 14.70% of the company’s stock.

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.