DRDGOLD (NYSE:DRD) Trading 4.8% Higher

DRDGOLD Limited (NYSE:DRD)’s stock price was up 4.8% on Monday . The company traded as high as $8.85 and last traded at $8.82. Approximately 209,681 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 302,389 shares. The stock had previously closed at $8.42.

Analysts Set New Price Targets

A number of equities analysts have weighed in on DRD shares. StockNews.com cut shares of DRDGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. HC Wainwright cut their target price on shares of DRDGOLD from $15.50 to $13.25 and set a “buy” rating on the stock in a research note on Thursday, August 22nd.

DRDGOLD Price Performance

The business’s 50 day moving average price is $9.13 and its 200-day moving average price is $8.66.

DRDGOLD Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, September 26th. Stockholders of record on Friday, September 13th will be paid a $0.1126 dividend. This represents a dividend yield of 1.9%. The ex-dividend date is Friday, September 13th. This is a positive change from DRDGOLD’s previous semi-annual dividend of $0.11.

Institutional Investors Weigh In On DRDGOLD

A number of institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp raised its stake in shares of DRDGOLD by 7.0% in the 1st quarter. Van ECK Associates Corp now owns 6,563,184 shares of the basic materials company’s stock valued at $53,818,000 after purchasing an additional 430,603 shares in the last quarter. American Century Companies Inc. raised its stake in DRDGOLD by 36.8% during the second quarter. American Century Companies Inc. now owns 679,600 shares of the basic materials company’s stock worth $5,851,000 after acquiring an additional 182,900 shares during the period. Marshall Wace LLP raised its stake in DRDGOLD by 34.3% during the second quarter. Marshall Wace LLP now owns 208,006 shares of the basic materials company’s stock worth $1,791,000 after acquiring an additional 53,081 shares during the period. Dimensional Fund Advisors LP raised its stake in DRDGOLD by 270.4% during the second quarter. Dimensional Fund Advisors LP now owns 79,277 shares of the basic materials company’s stock worth $683,000 after acquiring an additional 57,875 shares during the period. Finally, Trexquant Investment LP raised its stake in DRDGOLD by 88.4% during the fourth quarter. Trexquant Investment LP now owns 72,611 shares of the basic materials company’s stock worth $577,000 after acquiring an additional 34,061 shares during the period. Institutional investors and hedge funds 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.