HC Wainwright Reaffirms Buy Rating for DRDGOLD (NYSE:DRD)

DRDGOLD (NYSE:DRD - Get Free Report)'s stock had its "buy" rating restated by analysts at HC Wainwright in a research report issued on Friday, MarketBeat Ratings reports. They currently have a $13.25 target price on the basic materials company's stock. HC Wainwright's price objective would indicate a potential upside of 10.14% from the company's current price.

Separately, StockNews.com cut DRDGOLD from a "buy" rating to a "hold" rating in a report on Thursday, September 26th.

DRDGOLD Price Performance

NYSE:DRD traded up $0.61 during trading hours on Friday, reaching $12.03. 425,306 shares of the company were exchanged, compared to its average volume of 316,063. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 14.15 and a beta of 1.13. The stock has a 50 day simple moving average of $9.34 and a 200 day simple moving average of $8.99. DRDGOLD has a 52-week low of $6.48 and a 52-week high of $12.10.

Institutional Investors Weigh In On DRDGOLD

Several large investors have recently made changes to their positions in DRD. Hennion & Walsh Asset Management Inc. boosted its position in DRDGOLD by 11.3% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 17,778 shares of the basic materials company's stock worth $153,000 after purchasing an additional 1,802 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of DRDGOLD by 68.4% during the second quarter. EverSource Wealth Advisors LLC now owns 4,529 shares of the basic materials company's stock worth $39,000 after purchasing an additional 1,840 shares in the last quarter. Blue Trust Inc. boosted its position in shares of DRDGOLD by 4,107.5% in 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 during the period. Thompson Siegel & Walmsley LLC acquired a new stake in shares of DRDGOLD in the second quarter valued at about $86,000. Finally, Marshall Wace LLP raised its holdings in shares of DRDGOLD by 34.3% during the 2nd 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 during the period. Institutional investors and hedge funds own 14.70% of the company's stock.

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.