DRDGOLD (NYSE:DRD) Trading Up 2.6% – Should You Buy?

DRDGOLD Limited (NYSE:DRD)’s share price traded up 2.6% during trading on Wednesday . The stock traded as high as $8.94 and last traded at $8.94. 57,575 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 151,678 shares. The stock had previously closed at $8.71.

Wall Street Analyst Weigh In

DRD has been the topic of several recent analyst reports. StockNews.com lowered DRDGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. HC Wainwright reiterated a “buy” rating and issued a $13.25 target price on shares of DRDGOLD in a research report on Friday, October 18th.

DRDGOLD Stock Performance

The company has a market capitalization of $772.08 million, a PE ratio of 8.42 and a beta of 1.05. The stock has a 50 day moving average price of $9.65 and a two-hundred day moving average price of $9.61.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its position in DRDGOLD by 53.0% during the fourth quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 1,122 shares during the period. EverSource Wealth Advisors LLC grew its stake in DRDGOLD by 68.4% in 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. JPMorgan Chase & Co. boosted its holdings in DRDGOLD by 11.7% during the third quarter. JPMorgan Chase & Co. now owns 93,206 shares of the basic materials company’s stock valued at $899,000 after acquiring an additional 9,765 shares during the period. Thompson Siegel & Walmsley LLC bought a new position in shares of DRDGOLD in the second quarter worth about $86,000. Finally, Virtu Financial LLC bought a new stake in DRDGOLD during the 3rd quarter valued at approximately $119,000. 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.