DRDGOLD Limited (NYSE:DRD) Short Interest Up 10.3% in March

DRDGOLD Limited (NYSE:DRD) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 1,280,000 shares, an increase of 10.3% from the March 15th total of 1,160,000 shares. Based on an average daily volume of 334,200 shares, the short-interest ratio is presently 3.8 days.

DRDGOLD Stock Down 0.1 %

DRD opened at $8.38 on Wednesday. The company has a fifty day moving average price of $7.79 and a two-hundred day moving average price of $8.13. DRDGOLD has a 1-year low of $6.48 and a 1-year high of $13.85.

DRDGOLD Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, March 21st. Investors of record on Friday, March 8th were paid a dividend of $0.1058 per share. This represents a yield of 5%. The ex-dividend date was Thursday, March 7th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its position in shares of DRDGOLD by 317,900.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,180 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 3,179 shares during the period. Russell Investments Group Ltd. acquired a new position in DRDGOLD during the first quarter worth $36,000. Systematic Alpha Investments LLC acquired a new position in DRDGOLD during the third quarter worth $53,000. BNP Paribas Financial Markets acquired a new position in shares of DRDGOLD during the fourth quarter valued at about $91,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of DRDGOLD during the fourth quarter valued at about $98,000. Institutional investors own 14.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised DRDGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday.

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.