StockNews.com upgraded shares of DRDGOLD (NYSE:DRD - Free Report) from a hold rating to a buy rating in a research report sent to investors on Wednesday.
Separately, HC Wainwright decreased their price objective on DRDGOLD from $17.25 to $16.25 and set a "buy" rating for the company in a research note on Wednesday.
Check Out Our Latest Research Report on DRD
DRDGOLD Trading Down 5.1 %
DRDGOLD stock traded down $0.60 during midday trading on Wednesday, reaching $11.05. 499,760 shares of the stock traded hands, compared to its average volume of 258,369. The company has a 50-day simple moving average of $9.70 and a two-hundred day simple moving average of $9.78. The firm has a market cap of $954.95 million, a PE ratio of 8.77 and a beta of 1.08. DRDGOLD has a 12-month low of $6.48 and a 12-month high of $12.70.
Institutional Investors Weigh In On DRDGOLD
Several hedge funds and other institutional investors have recently made changes to their positions in the business. 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 acquiring an additional 1,291,541 shares in the last quarter. American Century Companies Inc. raised its position in shares of DRDGOLD by 72.9% during the 4th quarter. American Century Companies Inc. now owns 891,105 shares of the basic materials company's stock worth $7,690,000 after acquiring an additional 375,705 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of DRDGOLD by 15.4% during 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 acquiring an additional 66,857 shares in the last quarter. Invesco Ltd. increased its position in DRDGOLD by 8.1% during the fourth 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 period. Finally, Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new position in DRDGOLD during the fourth quarter worth approximately $1,449,000. Institutional investors and hedge funds own 14.70% of the company's stock.
DRDGOLD Company Profile
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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.
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