DRDGOLD (NYSE:DRD) Sets New 52-Week High – What’s Next?

DRDGOLD Limited (NYSE:DRD)’s stock price reached a new 52-week high on Monday . The stock traded as high as $12.51 and last traded at $12.51, with a volume of 47895 shares traded. The stock had previously closed at $12.03.

Analysts Set New Price Targets

A number of research firms have recently commented on DRD. HC Wainwright restated a “buy” rating and issued a $13.25 price target on shares of DRDGOLD in a report on Friday, October 18th. StockNews.com downgraded shares of DRDGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th.

DRDGOLD Stock Up 1.1 %

The firm has a 50 day moving average of $9.46 and a 200-day moving average of $9.05. The company has a market cap of $1.07 billion, a P/E ratio of 14.61 and a beta of 1.13.

DRDGOLD Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, September 13th were paid a dividend of $0.1126 per share. The ex-dividend date was Friday, September 13th. This represents a dividend yield of 1.9%. This is a positive change from DRDGOLD’s previous semi-annual dividend of $0.11. DRDGOLD’s dividend payout ratio (DPR) is currently 20.00%.

Institutional Trading of DRDGOLD

A number of hedge funds have recently added to or reduced their stakes in DRD. Dimensional Fund Advisors LP increased its position in DRDGOLD by 270.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 79,277 shares of the basic materials company’s stock valued at $683,000 after purchasing an additional 57,875 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in DRDGOLD by 11.3% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 17,778 shares of the basic materials company’s stock valued at $153,000 after buying an additional 1,802 shares during the period. U S Global Investors Inc. bought a new position in DRDGOLD in the third quarter worth approximately $2,388,000. Marshall Wace LLP raised its stake in DRDGOLD by 34.3% in the second quarter. Marshall Wace LLP now owns 208,006 shares of the basic materials company’s stock worth $1,791,000 after buying an additional 53,081 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in DRDGOLD by 4,107.5% during the second quarter. Blue Trust Inc. now owns 6,143 shares of the basic materials company’s stock worth $50,000 after buying an additional 5,997 shares during the period. 14.70% of the stock is owned by hedge funds and other institutional investors.

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.