DRDGOLD (NYSE:DRD) Shares Gap Up - Here's What Happened

Shares of DRDGOLD Limited (NYSE:DRD - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $8.74, but opened at $8.92. DRDGOLD shares last traded at $8.97, with a volume of 44,932 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. StockNews.com lowered DRDGOLD from a "buy" rating to a "hold" rating in a research note on Thursday, September 26th. HC Wainwright reiterated a "buy" rating and set a $13.25 price target on shares of DRDGOLD in a report on Friday, October 18th.

DRDGOLD Stock Performance

The firm's 50-day simple moving average is $10.42 and its 200-day simple moving average is $9.56. The company has a market capitalization of $759.97 million, a price-to-earnings ratio of 8.29 and a beta of 1.05.

Institutional Trading of DRDGOLD

Several institutional investors have recently modified their holdings of DRD. Blue Trust Inc. boosted its position in shares of DRDGOLD by 4,107.5% during the 2nd quarter. Blue Trust Inc. now owns 6,143 shares of the basic materials company's stock valued at $50,000 after acquiring an additional 5,997 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings 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 purchasing an additional 1,802 shares in the last quarter. American Century Companies Inc. grew its stake in shares of DRDGOLD by 36.8% in the 2nd quarter. American Century Companies Inc. now owns 679,600 shares of the basic materials company's stock valued at $5,851,000 after purchasing an additional 182,900 shares during the period. Thompson Siegel & Walmsley LLC acquired a new position in shares of DRDGOLD in the 2nd quarter worth approximately $86,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of DRDGOLD by 270.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 79,277 shares of the basic materials company's stock worth $683,000 after buying an additional 57,875 shares during the period. 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.