Short Interest in DRDGOLD Limited (NYSE:DRD) Grows By 18.8%

DRDGOLD Limited (NYSE:DRD) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 1,390,000 shares, a growth of 18.8% from the August 15th total of 1,170,000 shares. Based on an average trading volume of 274,900 shares, the days-to-cover ratio is presently 5.1 days.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on DRD shares. HC Wainwright decreased their price objective 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. StockNews.com downgraded DRDGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th.

DRDGOLD Stock Up 1.1 %

DRD stock traded up $0.10 on Tuesday, hitting $9.11. The company’s stock had a trading volume of 434,031 shares, compared to its average volume of 306,880. The firm has a 50 day moving average of $9.14 and a two-hundred day moving average of $8.65. DRDGOLD has a 1 year low of $6.48 and a 1 year high of $10.69.

DRDGOLD Increases Dividend

The firm 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 dividend of $0.1126 per share. This is an increase from DRDGOLD’s previous semi-annual dividend of $0.11. The ex-dividend date of this dividend is Friday, September 13th. This represents a dividend yield of 1.9%.

Hedge Funds Weigh In On DRDGOLD

Several institutional investors have recently added to or reduced their stakes in DRD. Van ECK Associates Corp grew 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 during the last quarter. American Century Companies Inc. grew its position in DRDGOLD by 36.8% in the 2nd quarter. American Century Companies Inc. now owns 679,600 shares of the basic materials company’s stock valued at $5,851,000 after buying an additional 182,900 shares during the last quarter. Marshall Wace LLP increased its stake in DRDGOLD by 34.3% in the 2nd quarter. Marshall Wace LLP now owns 208,006 shares of the basic materials company’s stock valued at $1,791,000 after buying an additional 53,081 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of DRDGOLD by 270.4% in the 2nd 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 lifted its stake in shares of DRDGOLD by 88.4% in the 4th 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.