Connor Clark & Lunn Investment Management Ltd. Has $4.33 Million Position in DRDGOLD Limited (NYSE:DRD)

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of DRDGOLD Limited (NYSE:DRD - Free Report) by 15.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 502,100 shares of the basic materials company's stock after purchasing an additional 66,857 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.58% of DRDGOLD worth $4,333,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of DRD. GAMMA Investing LLC grew its position in DRDGOLD by 53.0% during the 4th 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 during the last quarter. QRG Capital Management Inc. bought a new stake in shares of DRDGOLD during the fourth quarter worth $98,000. JPMorgan Chase & Co. increased its stake in shares of DRDGOLD by 11.7% in the third quarter. JPMorgan Chase & Co. now owns 93,206 shares of the basic materials company's stock valued at $899,000 after buying an additional 9,765 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of DRDGOLD by 41.3% in the fourth quarter. Blue Trust Inc. now owns 51,056 shares of the basic materials company's stock valued at $441,000 after buying an additional 14,912 shares during the last quarter. Finally, ABC Arbitrage SA acquired a new position in DRDGOLD during the 4th quarter worth about $1,140,000. Institutional investors and hedge funds own 14.70% of the company's stock.

DRDGOLD Trading Down 1.6 %

Shares of DRD traded down $0.24 on Thursday, reaching $14.55. 473,814 shares of the company's stock were exchanged, compared to its average volume of 361,510. DRDGOLD Limited has a 12 month low of $7.64 and a 12 month high of $14.90. The stock has a market capitalization of $1.26 billion, a P/E ratio of 11.55 and a beta of 1.09. The business has a 50 day moving average price of $11.15 and a two-hundred day moving average price of $10.25.

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DRDGOLD Dividend Announcement

The business also recently announced an annual dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.1628 per share. This represents a yield of 1.8%. The ex-dividend date is Friday, March 14th. DRDGOLD's dividend payout ratio (DPR) is currently 19.05%.

Analysts Set New Price Targets

A number of brokerages have weighed in on DRD. StockNews.com raised shares of DRDGOLD from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. HC Wainwright reduced their price objective on DRDGOLD from $17.25 to $16.25 and set a "buy" rating on the stock in a report on Wednesday, February 19th.

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.