DRDGOLD (NYSE:DRD) Shares Gap Up - Still a Buy?

Shares of DRDGOLD Limited (NYSE:DRD - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $9.23, but opened at $9.62. DRDGOLD shares last traded at $9.74, with a volume of 50,845 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on DRD shares. HC Wainwright reiterated a "buy" rating and issued a $13.25 target price on shares of DRDGOLD in a research note on Friday, October 18th. StockNews.com downgraded DRDGOLD from a "buy" rating to a "hold" rating in a research note on Thursday, September 26th.

DRDGOLD Stock Performance

The company's 50-day moving average is $10.40 and its two-hundred day moving average is $9.43.

DRDGOLD Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, September 13th were paid a $0.1126 dividend. This represents a dividend yield of 1.9%. This is a boost from DRDGOLD's previous semi-annual dividend of $0.11. The ex-dividend date of this dividend was Friday, September 13th.

Hedge Funds Weigh In On DRDGOLD

Large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its position in DRDGOLD by 68.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,529 shares of the basic materials company's stock valued at $39,000 after purchasing an additional 1,840 shares during the period. Blue Trust Inc. raised its stake in DRDGOLD by 4,107.5% during the second quarter. Blue Trust Inc. now owns 6,143 shares of the basic materials company's stock worth $50,000 after buying an additional 5,997 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in DRDGOLD in the second quarter valued at $86,000. Hennion & Walsh Asset Management Inc. boosted its position in DRDGOLD by 11.3% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 17,778 shares of the basic materials company's stock valued at $153,000 after acquiring an additional 1,802 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of DRDGOLD in the 3rd quarter worth about $431,000. Institutional investors 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.