Short Interest in DRDGOLD Limited (NYSE:DRD) Drops By 21.3%

DRDGOLD Limited (NYSE:DRD - Get Free Report) was the recipient of a significant decline in short interest in February. As of February 28th, there was short interest totalling 1,290,000 shares, a decline of 21.3% from the February 13th total of 1,640,000 shares. Based on an average trading volume of 278,500 shares, the days-to-cover ratio is currently 4.6 days. Approximately 1.5% of the company's stock are short sold.

Analysts Set New Price Targets

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

DRDGOLD Price Performance

DRDGOLD stock traded down $0.54 during trading hours on Friday, reaching $14.04. The stock had a trading volume of 198,847 shares, compared to its average volume of 305,584. DRDGOLD has a 52 week low of $7.64 and a 52 week high of $14.90. The business's 50 day moving average price is $11.26 and its 200-day moving average price is $10.28. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 11.15 and a beta of 1.09.

Remove Ads

DRDGOLD Announces Dividend

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

Institutional Investors Weigh In On DRDGOLD

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aquatic Capital Management LLC acquired a new stake in DRDGOLD in the 4th quarter worth approximately $25,000. GAMMA Investing LLC raised its stake in DRDGOLD by 53.0% in 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. purchased a new position in shares of DRDGOLD in the fourth quarter worth about $98,000. Squarepoint Ops LLC acquired a new stake in shares of DRDGOLD during the fourth quarter worth about $110,000. Finally, Virtu Financial LLC purchased a new stake in DRDGOLD in the third quarter valued at approximately $119,000. 14.70% of the stock is currently 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.