Zacks Investment Research upgraded shares of DRDGOLD (NYSE:DRD) from a hold rating to a buy rating in a research note published on Thursday, Zacks.com reports. They currently have $8.00 price objective on the basic materials company’s stock.
According to Zacks, “DRDGOLD is a medium-sized, unhedged gold producer with investments in South Africa and Australasia. Incontrovertibly bullish about its product, the company has recently concluded extensive refocusing of its gold interests. “
Other analysts have also recently issued reports about the company. ValuEngine cut DRDGOLD from a sell rating to a strong sell rating in a research report on Tuesday, January 7th. HC Wainwright lowered their price target on DRDGOLD from $13.75 to $9.25 and set a buy rating on the stock in a research report on Friday, February 14th.
The business also recently declared an annual dividend, which will be paid on Thursday, March 19th. Shareholders of record on Friday, March 6th will be given a $0.1684 dividend. This represents a yield of 1.5%. This is a boost from DRDGOLD’s previous annual dividend of $0.08. The ex-dividend date of this dividend is Thursday, March 5th. DRDGOLD’s dividend payout ratio is 125.00%.
Large investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. bought a new stake in DRDGOLD in the fourth quarter valued at $54,000. Virtu Financial LLC grew its stake in shares of DRDGOLD by 26.8% during the third quarter. Virtu Financial LLC now owns 19,543 shares of the basic materials company’s stock valued at $83,000 after buying an additional 4,134 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of DRDGOLD during the fourth quarter valued at about $116,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of DRDGOLD by 22.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 252,293 shares of the basic materials company’s stock worth $1,294,000 after purchasing an additional 45,854 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of DRDGOLD by 730.0% in the third quarter. Millennium Management LLC now owns 327,866 shares of the basic materials company’s stock worth $1,393,000 after purchasing an additional 288,363 shares during the last quarter. Hedge funds and other institutional investors own 10.43% of the company’s stock.
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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