StockNews.com Upgrades DRDGOLD (NYSE:DRD) to Buy

DRDGOLD (NYSE:DRD) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

Separately, HC Wainwright increased their price target on DRDGOLD from $13.25 to $15.50 and gave the company a “buy” rating in a report on Tuesday, May 14th.

DRDGOLD Trading Up 4.6 %

Shares of NYSE DRD opened at $8.40 on Monday. DRDGOLD has a 12-month low of $6.48 and a 12-month high of $12.08. The stock has a fifty day moving average price of $8.41 and a 200 day moving average price of $8.02.

Institutional Trading of DRDGOLD

Large investors have recently modified their holdings of the business. AJOVista LLC bought a new position in shares of DRDGOLD during the fourth quarter worth about $792,000. Dynamic Technology Lab Private Ltd lifted its position in shares of DRDGOLD by 141.7% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 35,280 shares of the basic materials company’s stock worth $280,000 after purchasing an additional 20,686 shares during the last quarter. Trexquant Investment LP bought a new position in shares of DRDGOLD during the third quarter worth about $320,000. Mutual Advisors LLC bought a new position in shares of DRDGOLD during the fourth quarter worth about $102,000. Finally, Van ECK Associates Corp lifted its position in shares of DRDGOLD by 1.2% during the fourth quarter. Van ECK Associates Corp now owns 6,132,581 shares of the basic materials company’s stock worth $48,754,000 after purchasing an additional 72,498 shares during the last quarter. 14.70% of the stock is currently owned by institutional investors and hedge funds.

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.