DRDGOLD (NYSE:DRD) Stock Price Down 2.5% – Here’s What Happened

DRDGOLD Limited (NYSE:DRD)’s stock price traded down 2.5% on Monday . The stock traded as low as $13.90 and last traded at $13.86. 107,444 shares traded hands during trading, a decline of 71% from the average session volume of 365,513 shares. The stock had previously closed at $14.21.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on DRD shares. HC Wainwright reduced 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, February 19th. StockNews.com upgraded shares of DRDGOLD from a “hold” rating to a “buy” rating in a report on Friday, March 14th.

DRDGOLD Trading Up 1.2 %

The company has a market capitalization of $1.21 billion, a P/E ratio of 11.13 and a beta of 1.09. The firm has a fifty day moving average of $11.54 and a 200 day moving average of $10.44.

DRDGOLD Dividend Announcement

The company also recently declared an annual dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.1628 per share. The ex-dividend date is Friday, March 14th. This represents a dividend yield of 1.8%. DRDGOLD’s dividend payout ratio is currently 19.05%.

Institutional Investors Weigh In On DRDGOLD

A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its holdings in DRDGOLD by 53.0% during 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 in the last quarter. QRG Capital Management Inc. purchased a new position in shares of DRDGOLD during the 4th quarter valued at $98,000. JPMorgan Chase & Co. boosted its holdings in DRDGOLD by 11.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 93,206 shares of the basic materials company’s stock worth $899,000 after buying an additional 9,765 shares during the period. Blue Trust Inc. increased its stake in DRDGOLD by 41.3% in the 4th quarter. Blue Trust Inc. now owns 51,056 shares of the basic materials company’s stock worth $441,000 after buying an additional 14,912 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in DRDGOLD by 15.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 502,100 shares of the basic materials company’s stock valued at $4,333,000 after acquiring an additional 66,857 shares during the period. 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.