DRDGOLD (NYSE:DRD) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of DRDGOLD (NYSE:DRD) from a hold rating to a buy rating in a research report report published on Wednesday.

Separately, HC Wainwright lowered their price objective on shares of DRDGOLD from $17.25 to $16.25 and set a “buy” rating for the company in a research note on Wednesday.

DRDGOLD Stock Up 1.1 %

Shares of DRD stock opened at $10.53 on Wednesday. The company has a 50-day moving average of $9.62 and a two-hundred day moving average of $9.75. DRDGOLD has a 1-year low of $6.48 and a 1-year high of $12.70.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted 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 valued at $28,000 after purchasing an additional 1,122 shares during the period. Ameriprise Financial Inc. raised its holdings in DRDGOLD by 10.0% in the fourth quarter. Ameriprise Financial Inc. now owns 15,779 shares of the basic materials company’s stock valued at $136,000 after acquiring an additional 1,438 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in DRDGOLD in the fourth quarter valued at approximately $25,000. Bank of America Corp DE raised its holdings in DRDGOLD by 47.2% in the fourth quarter. Bank of America Corp DE now owns 16,732 shares of the basic materials company’s stock valued at $144,000 after acquiring an additional 5,364 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in DRDGOLD by 9.2% in the fourth quarter. JPMorgan Chase & Co. now owns 101,764 shares of the basic materials company’s stock valued at $878,000 after acquiring an additional 8,558 shares in the last quarter. Hedge funds and other institutional investors own 14.70% of the company’s stock.

About DRDGOLD

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.