Short Interest in DRDGOLD Limited (NYSE:DRD) Expands By 11.4%

DRDGOLD Limited (NYSE:DRD - Get Free Report) was the target of a large increase in short interest in August. As of August 15th, there was short interest totalling 1,170,000 shares, an increase of 11.4% from the July 31st total of 1,050,000 shares. Based on an average daily volume of 281,600 shares, the short-interest ratio is presently 4.2 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. raised its holdings in shares of DRDGOLD by 11.3% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 17,778 shares of the basic materials company's stock valued at $153,000 after acquiring an additional 1,802 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in DRDGOLD by 68.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,529 shares of the basic materials company's stock valued at $39,000 after purchasing an additional 1,840 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in DRDGOLD by 317,900.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,180 shares of the basic materials company's stock worth $25,000 after purchasing an additional 3,179 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of DRDGOLD by 4,107.5% during the second quarter. Blue Trust Inc. now owns 6,143 shares of the basic materials company's stock worth $50,000 after buying an additional 5,997 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC purchased a new stake in shares of DRDGOLD during the second quarter worth $86,000. 14.70% of the stock is owned by hedge funds and other institutional investors.

DRDGOLD Stock Performance

NYSE:DRD traded down $0.14 during trading hours on Friday, reaching $8.27. 252,371 shares of the company were exchanged, compared to its average volume of 297,998. DRDGOLD has a twelve month low of $6.48 and a twelve month high of $10.82. The stock's 50-day moving average is $9.29 and its 200-day moving average is $8.55.

DRDGOLD Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, September 13th will be given a dividend of $0.1126 per share. This represents a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 13th. This is an increase from DRDGOLD's previous semi-annual dividend of $0.11.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DRD. HC Wainwright decreased their price objective on shares of DRDGOLD from $15.50 to $13.25 and set a "buy" rating for the company in a research report on Thursday, August 22nd. StockNews.com cut DRDGOLD from a "buy" rating to a "hold" rating in a report on Thursday, August 15th.

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.