Van ECK Associates Corp Sells 1,233,255 Shares of DRDGOLD Limited (NYSE:DRD)

Van ECK Associates Corp lowered its holdings in shares of DRDGOLD Limited (NYSE:DRD - Free Report) by 18.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,329,929 shares of the basic materials company's stock after selling 1,233,255 shares during the quarter. Van ECK Associates Corp owned 6.16% of DRDGOLD worth $45,891,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. AJOVista LLC purchased a new position in DRDGOLD in the 4th quarter worth about $792,000. Campbell & CO Investment Adviser LLC purchased a new position in DRDGOLD in the 4th quarter worth about $507,000. Trexquant Investment LP increased its stake in DRDGOLD by 88.4% in the 4th quarter. Trexquant Investment LP now owns 72,611 shares of the basic materials company's stock worth $577,000 after buying an additional 34,061 shares during the period. Jump Financial LLC increased its stake in DRDGOLD by 102.1% in the 4th quarter. Jump Financial LLC now owns 60,247 shares of the basic materials company's stock worth $479,000 after buying an additional 30,438 shares during the period. Finally, Creekmur Asset Management LLC purchased a new position in DRDGOLD in the 4th quarter worth about $216,000. Hedge funds and other institutional investors own 14.70% of the company's stock.

DRDGOLD Stock Performance

DRDGOLD stock traded down $0.14 during midday trading on Friday, hitting $8.27. 252,371 shares of the company's stock were exchanged, compared to its average volume of 307,093. DRDGOLD Limited has a 12 month low of $6.48 and a 12 month high of $10.82. The company has a market cap of $715.02 million, a PE ratio of 7.95 and a beta of 1.06. The firm has a 50-day moving average of $9.29 and a two-hundred day moving average of $8.52.

DRDGOLD Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, September 13th will be paid a $0.1126 dividend. The ex-dividend date is Friday, September 13th. This is a boost from DRDGOLD's previous semi-annual dividend of $0.11. This represents a yield of 1.9%. DRDGOLD's dividend payout ratio (DPR) is 15.38%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on DRD shares. HC Wainwright dropped their target price on shares of DRDGOLD from $15.50 to $13.25 and set a "buy" rating on the stock in a report on Thursday, August 22nd. StockNews.com cut shares of DRDGOLD from a "buy" rating to a "hold" rating in a report on Thursday, August 15th.

DRDGOLD 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.