DRDGOLD (NYSE:DRD) Trading Down 5.8% - Here's Why

DRDGOLD Limited (NYSE:DRD - Get Free Report)'s stock price was down 5.8% during trading on Friday . The company traded as low as $10.32 and last traded at $10.35. Approximately 130,495 shares traded hands during trading, a decline of 45% from the average daily volume of 236,532 shares. The stock had previously closed at $10.98.

Analyst Upgrades and Downgrades

Separately, HC Wainwright boosted their price objective on shares of DRDGOLD from $13.25 to $17.25 and gave the company a "buy" rating in a report on Wednesday, January 22nd.

DRDGOLD Stock Performance

The company's 50-day moving average is $9.60 and its two-hundred day moving average is $9.74.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its stake in shares of DRDGOLD by 24.2% in the 3rd quarter. Van ECK Associates Corp now owns 6,621,470 shares of the basic materials company's stock valued at $63,831,000 after purchasing an additional 1,291,541 shares during the last quarter. American Century Companies Inc. grew its position in DRDGOLD by 72.9% in the fourth quarter. American Century Companies Inc. now owns 891,105 shares of the basic materials company's stock valued at $7,690,000 after acquiring an additional 375,705 shares during the last quarter. U S Global Investors Inc. bought a new position in shares of DRDGOLD in the third quarter worth about $2,388,000. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new stake in shares of DRDGOLD in the 4th quarter valued at approximately $1,449,000. Finally, ABC Arbitrage SA bought a new stake in shares of DRDGOLD during the 4th quarter valued at approximately $1,140,000. 14.70% of the stock is currently owned by institutional investors and hedge funds.

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.