DRDGOLD (NYSE:DRD) Shares Up 6.3% - What's Next?

DRDGOLD Limited (NYSE:DRD - Get Free Report)'s stock price shot up 6.3% during mid-day trading on Tuesday . The stock traded as high as $9.43 and last traded at $9.43. 118,765 shares were traded during mid-day trading, a decline of 40% from the average session volume of 198,014 shares. The stock had previously closed at $8.87.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. HC Wainwright reaffirmed a "buy" rating and set a $13.25 price target on shares of DRDGOLD in a research report on Friday, October 18th. StockNews.com cut shares of DRDGOLD from a "buy" rating to a "hold" rating in a report on Thursday, September 26th.

DRDGOLD Trading Up 7.6 %

The company has a fifty day simple moving average of $9.42 and a 200-day simple moving average of $9.62.

Institutional Investors Weigh In On DRDGOLD

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. U S Global Investors Inc. purchased a new position in DRDGOLD during the third quarter valued at approximately $2,388,000. Van ECK Associates Corp boosted its holdings in DRDGOLD by 24.2% in 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 buying an additional 1,291,541 shares during the period. Dimensional Fund Advisors LP increased its stake in DRDGOLD by 270.4% in 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 in the last quarter. Blue Trust Inc. increased its stake in DRDGOLD by 488.4% in the 3rd quarter. Blue Trust Inc. now owns 36,144 shares of the basic materials company's stock worth $348,000 after buying an additional 30,001 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in 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 acquiring an additional 53,081 shares during the period. 14.70% of the stock is owned by hedge funds and other institutional investors.

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.