DRDGOLD (NYSE:DRD) Trading Down 2.5% – Here’s Why

Shares of DRDGOLD Limited (NYSE:DRD) traded down 2.5% during trading on Wednesday . The company traded as low as $9.31 and last traded at $9.33. 60,642 shares traded hands during trading, a decline of 71% from the average session volume of 209,609 shares. The stock had previously closed at $9.57.

Wall Street Analysts Forecast Growth

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

DRDGOLD Stock Performance

The stock’s fifty day moving average is $9.31 and its two-hundred day moving average is $9.62.

Institutional Trading of DRDGOLD

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp increased its holdings in shares of 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 last quarter. American Century Companies Inc. increased its holdings in shares of DRDGOLD by 36.8% in the 2nd quarter. American Century Companies Inc. now owns 679,600 shares of the basic materials company’s stock worth $5,851,000 after buying an additional 182,900 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of DRDGOLD by 12.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 435,243 shares of the basic materials company’s stock worth $4,196,000 after buying an additional 48,442 shares during the last quarter. U S Global Investors Inc. bought a new position in shares of DRDGOLD in the 3rd quarter worth $2,388,000. Finally, Marshall Wace LLP increased its holdings in shares of DRDGOLD by 34.3% in the 2nd quarter. Marshall Wace LLP now owns 208,006 shares of the basic materials company’s stock worth $1,791,000 after buying an additional 53,081 shares during the last quarter. Institutional investors 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.