DRDGOLD (NYSE:DRD) Trading Up 10.1% - Time to Buy?

DRDGOLD Limited (NYSE:DRD - Get Free Report) traded up 10.1% during mid-day trading on Thursday . The company traded as high as $11.51 and last traded at $11.62. 145,790 shares traded hands during trading, a decline of 39% from the average session volume of 237,215 shares. The stock had previously closed at $10.55.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. HC Wainwright dropped their price objective on shares of DRDGOLD from $17.25 to $16.25 and set a "buy" rating for the company in a report on Wednesday. StockNews.com raised shares of DRDGOLD from a "hold" rating to a "buy" rating in a report on Wednesday.

DRDGOLD Trading Down 5.1 %

The business's fifty day moving average price is $9.70 and its 200-day moving average price is $9.78.

Institutional Trading of DRDGOLD

Several hedge funds have recently added to or reduced their stakes in DRD. Van ECK Associates Corp lifted its stake in DRDGOLD by 24.2% in the third quarter. Van ECK Associates Corp now owns 6,621,470 shares of the basic materials company's stock worth $63,831,000 after purchasing an additional 1,291,541 shares during the last quarter. American Century Companies Inc. lifted its stake 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 worth $7,690,000 after purchasing an additional 375,705 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. bought a new stake in DRDGOLD in the fourth quarter worth $1,449,000. ABC Arbitrage SA bought a new stake in DRDGOLD in the fourth quarter worth $1,140,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in DRDGOLD in the fourth quarter worth $1,045,000. 14.70% of the stock is owned by institutional investors.

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.