DRDGOLD (NYSE:DRD) Upgraded to “Buy” at StockNews.com

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

Separately, HC Wainwright decreased their target price on shares of DRDGOLD from $15.50 to $13.25 and set a “buy” rating for the company in a research note on Thursday, August 22nd.

DRDGOLD Stock Down 0.7 %

Shares of DRD traded down $0.06 during mid-day trading on Wednesday, reaching $9.03. The company had a trading volume of 502,523 shares, compared to its average volume of 307,970. The firm has a fifty day simple moving average of $9.13 and a 200-day simple moving average of $8.66. DRDGOLD has a fifty-two week low of $6.48 and a fifty-two week high of $10.69.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its position in DRDGOLD by 68.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,529 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 1,840 shares during the period. Blue Trust Inc. lifted its holdings in shares of DRDGOLD by 4,107.5% during the 2nd quarter. Blue Trust Inc. now owns 6,143 shares of the basic materials company’s stock worth $50,000 after acquiring an additional 5,997 shares during the period. Thompson Siegel & Walmsley LLC bought a new stake in DRDGOLD in the second quarter valued at $86,000. Hennion & Walsh Asset Management Inc. bought a new position in shares of DRDGOLD in the first quarter valued at approximately $131,000. Finally, Creekmur Asset Management LLC bought a new position in DRDGOLD in the 4th quarter valued at $216,000. 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.