DRDGOLD (NYSE:DRD) Trading 10.1% Higher – Time to Buy?

DRDGOLD Limited (NYSE:DRD)’s stock price rose 10.1% on Thursday . The company traded as high as $11.51 and last traded at $11.62. Approximately 145,790 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 237,215 shares. The stock had previously closed at $10.55.

Analyst Ratings Changes

DRD has been the subject of a number of research reports. 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. StockNews.com raised shares of DRDGOLD from a “hold” rating to a “buy” rating in a research note on Wednesday.

DRDGOLD Stock Down 5.1 %

The company has a market capitalization of $954.95 million, a PE ratio of 8.77 and a beta of 1.08. The stock’s 50 day moving average is $9.70 and its two-hundred day moving average is $9.78.

Hedge Funds Weigh In On DRDGOLD

A number of large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its holdings in DRDGOLD by 24.2% in the third quarter. Van ECK Associates Corp now owns 6,621,470 shares of the basic materials company’s stock worth $63,831,000 after purchasing an additional 1,291,541 shares in the last quarter. American Century Companies Inc. raised its holdings in DRDGOLD by 72.9% in the fourth quarter. American Century Companies Inc. now owns 891,105 shares of the basic materials company’s stock worth $7,690,000 after purchasing an additional 375,705 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in DRDGOLD by 15.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 502,100 shares of the basic materials company’s stock worth $4,333,000 after purchasing an additional 66,857 shares in the last quarter. Invesco Ltd. raised its holdings in DRDGOLD by 8.1% in the fourth quarter. Invesco Ltd. now owns 266,360 shares of the basic materials company’s stock worth $2,299,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. bought a new position in DRDGOLD in the fourth quarter worth about $1,449,000. 14.70% of the stock is currently owned by institutional investors.

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.