DRDGOLD (NYSE:DRD) Hits New 52-Week High - Here's Why

Shares of DRDGOLD Limited (NYSE:DRD - Get Free Report) reached a new 52-week high on Friday . The company traded as high as $16.07 and last traded at $16.29, with a volume of 25770 shares trading hands. The stock had previously closed at $15.25.

Wall Street Analysts Forecast Growth

DRD has been the subject of a number of recent analyst reports. HC Wainwright dropped their price target 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. StockNews.com upgraded DRDGOLD from a "hold" rating to a "buy" rating in a report on Friday, March 14th.

DRDGOLD Stock Up 3.2 %

The company has a market cap of $1.48 billion, a P/E ratio of 13.55 and a beta of 0.88. The business's 50 day moving average is $13.16 and its 200 day moving average is $11.09.

DRDGOLD Announces Dividend

The business also recently disclosed an annual dividend, which was paid on Thursday, March 27th. Investors of record on Friday, March 14th were given a dividend of $0.1628 per share. This represents a yield of 1.8%. The ex-dividend date of this dividend was Friday, March 14th. DRDGOLD's payout ratio is currently 19.05%.

Hedge Funds Weigh In On DRDGOLD

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of 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 buying an additional 1,122 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in DRDGOLD by 10.0% in the fourth quarter. Ameriprise Financial Inc. now owns 15,779 shares of the basic materials company's stock worth $136,000 after purchasing an additional 1,438 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in shares of DRDGOLD during the fourth quarter worth $25,000. Bank of America Corp DE lifted its holdings in shares of DRDGOLD by 47.2% during the 4th quarter. Bank of America Corp DE now owns 16,732 shares of the basic materials company's stock valued at $144,000 after purchasing an additional 5,364 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of DRDGOLD by 9.2% in the 4th quarter. JPMorgan Chase & Co. now owns 101,764 shares of the basic materials company's stock worth $878,000 after purchasing an additional 8,558 shares in the last quarter. 14.70% of the stock is currently owned by institutional investors.

About DRDGOLD

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.