DRDGOLD (NYSE:DRD) Shares Gap Up to $9.03

DRDGOLD Limited (NYSE:DRD) shares gapped up prior to trading on Thursday . The stock had previously closed at $9.03, but opened at $9.56. DRDGOLD shares last traded at $9.57, with a volume of 128,805 shares trading hands.

Analyst Ratings Changes

DRD has been the topic of a number of research analyst reports. StockNews.com upgraded shares of DRDGOLD from a “hold” rating to a “buy” rating in a report on Wednesday. HC Wainwright reduced their target price on shares of DRDGOLD from $15.50 to $13.25 and set a “buy” rating on the stock in a report on Thursday, August 22nd.

DRDGOLD Price Performance

The company’s 50-day moving average price is $9.12 and its two-hundred day moving average price is $8.66.

DRDGOLD Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, September 13th will be given a dividend of $0.1126 per share. This represents a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 13th. This is an increase 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 DRD. EverSource Wealth Advisors LLC grew its position in shares of DRDGOLD by 68.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,529 shares of the basic materials company’s stock valued at $39,000 after buying an additional 1,840 shares during the last quarter. Blue Trust Inc. boosted its stake in DRDGOLD by 4,107.5% during the 2nd quarter. Blue Trust Inc. now owns 6,143 shares of the basic materials company’s stock valued at $50,000 after purchasing an additional 5,997 shares during the period. Thompson Siegel & Walmsley LLC acquired a new position in DRDGOLD during the 2nd quarter valued at about $86,000. Hennion & Walsh Asset Management Inc. acquired a new position in DRDGOLD during the 1st quarter valued at about $131,000. Finally, Creekmur Asset Management LLC acquired a new position in DRDGOLD during the 4th quarter valued at about $216,000. Institutional investors 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.