DRDGOLD (NYSE:DRD) Sees Strong Trading Volume - Should You Buy?

DRDGOLD Limited (NYSE:DRD - Get Free Report) shares saw strong trading volume on Friday . 112,937 shares traded hands during mid-day trading, a decline of 34% from the previous session's volume of 172,094 shares.The stock last traded at $9.47 and had previously closed at $9.07.

Analysts Set New Price Targets

Several analysts have recently weighed in on DRD shares. StockNews.com lowered shares of DRDGOLD from a "buy" rating to a "hold" rating in a research report on Thursday, September 26th. HC Wainwright reaffirmed a "buy" rating and set a $13.25 price objective on shares of DRDGOLD in a report on Friday, October 18th.

DRDGOLD Stock Performance

The company's 50 day moving average price is $9.53 and its 200 day moving average price is $9.60. The company has a market cap of $801.47 million, a price-to-earnings ratio of 8.75 and a beta of 1.05.

Institutional Trading of DRDGOLD

Hedge funds have recently modified their holdings of the company. U S Global Investors Inc. acquired a new position in DRDGOLD during the 3rd quarter worth about $2,388,000. Van ECK Associates Corp raised its stake in shares of DRDGOLD by 24.2% in the third 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 during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of DRDGOLD by 270.4% during the second quarter. Dimensional Fund Advisors LP now owns 79,277 shares of the basic materials company's stock worth $683,000 after purchasing an additional 57,875 shares in the last quarter. Blue Trust Inc. grew its stake in shares of DRDGOLD by 488.4% during the third quarter. Blue Trust Inc. now owns 36,144 shares of the basic materials company's stock valued at $348,000 after purchasing an additional 30,001 shares during the last quarter. Finally, Marshall Wace LLP increased 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 valued at $1,791,000 after purchasing an additional 53,081 shares in the last quarter. 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.