DRDGOLD (NYSE:DRD) Stock Price Down 2.5% - Here's Why

Shares of DRDGOLD Limited (NYSE:DRD - Get Free Report) traded down 2.5% on Monday . The company traded as low as $13.90 and last traded at $13.86. 107,444 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 365,513 shares. The stock had previously closed at $14.21.

Analysts Set New Price Targets

A number of equities analysts recently commented on DRD shares. StockNews.com upgraded DRDGOLD from a "hold" rating to a "buy" rating in a report on Friday, March 14th. HC Wainwright decreased 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, February 19th.

DRDGOLD Trading Up 2.9 %

The company has a market cap of $1.28 billion, a PE ratio of 11.80 and a beta of 1.09. The stock has a 50 day moving average price of $11.74 and a 200 day moving average price of $10.49.

DRDGOLD Announces Dividend

The firm also recently announced an annual dividend, which was paid on Thursday, March 27th. Stockholders of record on Friday, March 14th were issued a dividend of $0.1628 per share. This represents a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, March 14th. DRDGOLD's dividend payout ratio (DPR) is presently 19.05%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DRD. American Century Companies Inc. grew its holdings 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 period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of DRDGOLD by 15.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 502,100 shares of the basic materials company's stock worth $4,333,000 after purchasing an additional 66,857 shares in the last quarter. Invesco Ltd. grew its stake in shares of DRDGOLD by 8.1% in the 4th quarter. Invesco Ltd. now owns 266,360 shares of the basic materials company's stock worth $2,299,000 after buying an additional 20,000 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. bought a new position in DRDGOLD during the 4th quarter valued at approximately $1,449,000. Finally, ABC Arbitrage SA bought a new position in DRDGOLD during the 4th quarter valued at approximately $1,140,000. 14.70% of the stock is currently owned by institutional investors.

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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.