DRDGOLD (NYSE:DRD) Trading Down 2.5% – Should You Sell?

Shares of DRDGOLD Limited (NYSE:DRD) fell 2.5% during trading on Wednesday . The company traded as low as $9.31 and last traded at $9.33. 60,642 shares traded hands during trading, a decline of 71% from the average session volume of 209,609 shares. The stock had previously closed at $9.57.

Analysts Set New Price Targets

DRD has been the subject of several recent analyst reports. StockNews.com cut shares of DRDGOLD from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. HC Wainwright reaffirmed a “buy” rating and set a $13.25 price target on shares of DRDGOLD in a research note on Friday, October 18th.

DRDGOLD Stock Performance

The company’s 50-day moving average price is $9.37 and its two-hundred day moving average price is $9.63.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its stake in shares of DRDGOLD by 24.2% during the 3rd quarter. Van ECK Associates Corp now owns 6,621,470 shares of the basic materials company’s stock worth $63,831,000 after acquiring an additional 1,291,541 shares in the last quarter. U S Global Investors Inc. acquired a new position in shares of DRDGOLD in the 3rd quarter valued at $2,388,000. American Century Companies Inc. increased its stake in DRDGOLD by 36.8% in the 2nd quarter. American Century Companies Inc. now owns 679,600 shares of the basic materials company’s stock worth $5,851,000 after purchasing an additional 182,900 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in DRDGOLD by 270.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 79,277 shares of the basic materials company’s stock worth $683,000 after buying an additional 57,875 shares during the period. Finally, Marshall Wace LLP boosted its holdings in shares of DRDGOLD by 34.3% in the second quarter. Marshall Wace LLP now owns 208,006 shares of the basic materials company’s stock worth $1,791,000 after buying an additional 53,081 shares during the period. 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.