DRDGOLD (NYSE:DRD) Shares Gap Down – Here’s What Happened

DRDGOLD Limited (NYSE:DRD)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $11.37, but opened at $10.87. DRDGOLD shares last traded at $11.40, with a volume of 94,315 shares trading hands.

Wall Street Analysts Forecast Growth

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

DRDGOLD Price Performance

The company has a market cap of $992.55 million, a P/E ratio of 9.11 and a beta of 1.08. The company has a 50 day moving average of $9.79 and a 200-day moving average of $9.82.

Institutional Trading of DRDGOLD

Several institutional investors have recently bought and sold shares of the company. Aquatic Capital Management LLC purchased a new stake in shares of DRDGOLD in the 4th quarter worth $25,000. GAMMA Investing LLC grew its position in DRDGOLD by 53.0% in the fourth quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 1,122 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in shares of DRDGOLD in the fourth quarter valued at $98,000. Squarepoint Ops LLC bought a new stake in DRDGOLD during the 4th quarter valued at about $110,000. Finally, Virtu Financial LLC purchased a new position in DRDGOLD during the 3rd quarter valued at about $119,000. 14.70% of the stock is owned by hedge funds and other institutional investors.

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.