DRDGOLD (NYSE:DRD) Trading 2.6% Higher - What's Next?

Shares of DRDGOLD Limited (NYSE:DRD - Get Free Report) rose 2.6% on Wednesday . The stock traded as high as $8.94 and last traded at $8.94. Approximately 57,575 shares changed hands during trading, a decline of 62% from the average daily volume of 151,678 shares. The stock had previously closed at $8.71.

Analyst Ratings Changes

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

DRDGOLD Trading Up 4.5 %

The company has a market capitalization of $786.78 million, a price-to-earnings ratio of 8.58 and a beta of 1.05. The stock has a 50-day simple moving average of $9.65 and a 200-day simple moving average of $9.61.

Hedge Funds Weigh In On DRDGOLD

Large investors have recently modified their holdings of the stock. Van ECK Associates Corp raised its position in shares of DRDGOLD by 24.2% during the 3rd 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 period. U S Global Investors Inc. purchased a new position in shares of DRDGOLD in the third quarter worth approximately $2,388,000. American Century Companies Inc. raised its stake in DRDGOLD by 36.8% during 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. Dimensional Fund Advisors LP boosted its position in shares of DRDGOLD by 270.4% in the second 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. Finally, Marshall Wace LLP grew its holdings in shares of DRDGOLD by 34.3% during the second quarter. Marshall Wace LLP now owns 208,006 shares of the basic materials company's stock valued at $1,791,000 after buying an additional 53,081 shares in the last quarter. Institutional investors own 14.70% of the company's stock.

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.