DRDGOLD (NYSE:DRD) Rating Lowered to Hold at StockNews.com

DRDGOLD (NYSE:DRD) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

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

DRDGOLD Price Performance

DRD opened at $8.40 on Wednesday. DRDGOLD has a 52-week low of $6.48 and a 52-week high of $11.98. The stock’s 50 day moving average price is $8.42 and its 200-day moving average price is $8.02.

Institutional Investors Weigh In On DRDGOLD

Hedge funds have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in DRDGOLD by 6.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 328,149 shares of the basic materials company’s stock worth $2,724,000 after acquiring an additional 20,730 shares in the last quarter. Trexquant Investment LP bought a new stake in DRDGOLD in the third quarter worth $320,000. Mutual Advisors LLC bought a new stake in DRDGOLD in the fourth quarter worth $102,000. Van ECK Associates Corp boosted its holdings in DRDGOLD by 1.2% in 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 acquiring an additional 72,498 shares in the last quarter. Finally, AJOVista LLC bought a new stake in DRDGOLD in the fourth quarter worth $792,000. 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.