DRDGOLD (NYSE:DRD) Shares Down 2.3% - Here's What Happened

DRDGOLD Limited (NYSE:DRD - Get Free Report) was down 2.3% during trading on Tuesday . The stock traded as low as $16.26 and last traded at $16.32. Approximately 246,178 shares were traded during trading, a decline of 26% from the average daily volume of 331,832 shares. The stock had previously closed at $16.70.

Wall Street Analyst Weigh In

DRD has been the topic of a number of recent analyst reports. HC Wainwright dropped their price objective on shares of DRDGOLD from $17.25 to $16.25 and set a "buy" rating on the stock in a research report on Wednesday, February 19th. StockNews.com cut DRDGOLD from a "buy" rating to a "hold" rating in a research note on Friday, April 18th.

DRDGOLD Price Performance

The company's 50 day simple moving average is $14.02 and its 200 day simple moving average is $11.44. The company has a market capitalization of $1.28 billion, a PE ratio of 11.79 and a beta of 0.88.

DRDGOLD Announces Dividend

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

Institutional Investors Weigh In On DRDGOLD

Institutional investors and hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. lifted its holdings in shares of DRDGOLD by 72.9% in the 4th quarter. American Century Companies Inc. now owns 891,105 shares of the basic materials company's stock valued at $7,690,000 after purchasing an additional 375,705 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of DRDGOLD by 15.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 502,100 shares of the basic materials company's stock valued at $4,333,000 after acquiring an additional 66,857 shares during the period. Invesco Ltd. grew its position in shares of DRDGOLD by 8.1% during the fourth quarter. Invesco Ltd. now owns 266,360 shares of the basic materials company's stock worth $2,299,000 after acquiring an additional 20,000 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new position in shares of DRDGOLD in the 4th quarter valued at $1,449,000. Finally, U S Global Investors Inc. purchased a new stake in DRDGOLD in the 1st quarter valued at $2,150,000. 14.70% of the stock is owned by hedge funds and other 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.