ValuEngine Lowers DRDGOLD (NYSE:DRD) to Strong Sell

DRDGOLD (NYSE:DRD) was downgraded by equities researchers at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Tuesday, ValuEngine reports.

Separately, HC Wainwright assumed coverage on DRDGOLD in a research note on Thursday, September 5th. They set a “buy” rating and a $13.75 price objective for the company.

DRDGOLD stock traded down $0.21 during mid-day trading on Tuesday, hitting $4.39. 108,300 shares of the company were exchanged, compared to its average volume of 138,601. The business has a fifty day moving average of $4.43 and a 200 day moving average of $3.04. DRDGOLD has a 1-year low of $1.64 and a 1-year high of $5.20. The company has a market capitalization of $188.21 million, a PE ratio of 54.88 and a beta of -0.44.

A number of institutional investors have recently added to or reduced their stakes in DRD. Ruffer LLP raised its stake in DRDGOLD by 33.7% during the second quarter. Ruffer LLP now owns 4,964,439 shares of the basic materials company’s stock worth $15,067,000 after acquiring an additional 1,249,941 shares in the last quarter. SG Americas Securities LLC acquired a new position in DRDGOLD during the second quarter worth $64,000. Midwest Professional Planners LTD. acquired a new position in DRDGOLD during the second quarter worth $44,000. HighTower Advisors LLC acquired a new position in DRDGOLD during the second quarter worth $31,000. Finally, Citadel Advisors LLC raised its stake in DRDGOLD by 44.2% during the second quarter. Citadel Advisors LLC now owns 14,418 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 4,418 shares in the last quarter. Hedge funds and other institutional investors own 16.81% of the company’s stock.

DRDGOLD Company Profile

DRDGOLD Limited, a gold mining company, engages in surface gold tailings retreatment business in South Africa. The company's activities include exploration, extraction, processing, and smelting. It recovers gold from surface tailings in the central and western Witwatersrand basin in Gauteng province.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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