Van ECK Associates Corp Sells 1,338,860 Shares of DRDGOLD Limited (NYSE:DRD)

Van ECK Associates Corp cut its stake in DRDGOLD Limited (NYSE:DRD) by 20.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,282,610 shares of the basic materials company’s stock after selling 1,338,860 shares during the period. Van ECK Associates Corp owned 6.11% of DRDGOLD worth $45,588,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in shares of DRDGOLD by 53.0% in the fourth quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 1,122 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of DRDGOLD by 11.7% in the third quarter. JPMorgan Chase & Co. now owns 93,206 shares of the basic materials company’s stock worth $899,000 after acquiring an additional 9,765 shares during the last quarter. Virtu Financial LLC bought a new position in shares of DRDGOLD in the third quarter worth about $119,000. Blue Trust Inc. raised its stake in shares of DRDGOLD by 41.3% in the fourth quarter. Blue Trust Inc. now owns 51,056 shares of the basic materials company’s stock worth $441,000 after acquiring an additional 14,912 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of DRDGOLD in the fourth quarter worth about $176,000. 14.70% of the stock is owned by institutional investors.

DRDGOLD Price Performance

DRD opened at $10.95 on Friday. The firm has a 50 day simple moving average of $9.56 and a 200 day simple moving average of $9.74. DRDGOLD Limited has a fifty-two week low of $6.48 and a fifty-two week high of $12.70.

Wall Street Analyst Weigh In

Separately, HC Wainwright boosted their target price on shares of DRDGOLD from $13.25 to $17.25 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd.

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.