DRDGOLD (NYSE:DRD) Shares Gap Up - Time to Buy?

DRDGOLD Limited (NYSE:DRD - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $16.54, but opened at $17.42. DRDGOLD shares last traded at $17.34, with a volume of 311,049 shares.

Analyst Upgrades and Downgrades

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

DRDGOLD Price Performance

The business's 50-day moving average is $13.50 and its two-hundred day moving average is $11.23. The firm has a market cap of $1.43 billion, a P/E ratio of 13.15 and a beta of 0.88.

DRDGOLD Dividend Announcement

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 of this dividend was Friday, March 14th. DRDGOLD's dividend payout ratio is currently 19.05%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio acquired a new stake in DRDGOLD in the third quarter valued at $431,000. Virtu Financial LLC acquired a new stake in DRDGOLD in the 3rd quarter valued at about $119,000. JPMorgan Chase & Co. grew its holdings in DRDGOLD by 11.7% during the third quarter. JPMorgan Chase & Co. now owns 93,206 shares of the basic materials company's stock worth $899,000 after purchasing an additional 9,765 shares during the period. GAMMA Investing LLC increased its position in DRDGOLD by 53.0% during the fourth 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. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in DRDGOLD during the fourth quarter worth approximately $176,000. 14.70% of the stock is 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.