DRDGOLD (NYSE:DRD) Stock Price Up 6% – Time to Buy?

DRDGOLD Limited (NYSE:DRD)’s stock price rose 6% during mid-day trading on Thursday . The company traded as high as $15.11 and last traded at $15.02. Approximately 204,014 shares changed hands during trading, a decline of 37% from the average daily volume of 323,863 shares. The stock had previously closed at $14.17.

Analyst Upgrades and Downgrades

DRD has been the subject of a number of research reports. StockNews.com raised DRDGOLD from a “hold” rating to a “buy” rating in a report on Friday, March 14th. HC Wainwright cut their price objective on shares of DRDGOLD from $17.25 to $16.25 and set a “buy” rating for the company in a report on Wednesday, February 19th.

DRDGOLD Stock Up 6.0 %

The company has a 50 day simple moving average of $12.95 and a 200 day simple moving average of $11.01. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 12.83 and a beta of 0.88.

DRDGOLD Dividend Announcement

The company also recently disclosed an annual dividend, which was paid on Thursday, March 27th. Investors of record on Friday, March 14th were issued a dividend of $0.1628 per share. This represents a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, March 14th. DRDGOLD’s dividend payout ratio (DPR) is 19.05%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DRD. GAMMA Investing LLC raised its position in DRDGOLD by 2,264.9% during the 1st quarter. GAMMA Investing LLC now owns 76,623 shares of the basic materials company’s stock worth $1,185,000 after purchasing an additional 73,383 shares during the last quarter. PKO Investment Management Joint Stock Co acquired a new stake in DRDGOLD during the 4th quarter valued at approximately $439,000. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. bought a new position in DRDGOLD during the 4th quarter worth approximately $276,000. Public Employees Retirement System of Ohio lifted its position in shares of DRDGOLD by 26.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 56,592 shares of the basic materials company’s stock worth $488,000 after purchasing an additional 11,921 shares during the period. Finally, GTS Securities LLC bought a new stake in shares of DRDGOLD in the 4th quarter valued at $170,000. Institutional investors and hedge funds 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.