DRDGOLD (NYSE:DRD) Trading Down 2.5% – Here’s What Happened

DRDGOLD Limited (NYSE:DRD)’s stock price was down 2.5% during mid-day trading on Wednesday . The stock traded as low as $9.31 and last traded at $9.33. Approximately 60,642 shares traded hands during trading, a decline of 71% from the average daily volume of 209,609 shares. The stock had previously closed at $9.57.

Analysts Set New Price Targets

Several brokerages have recently commented on DRD. StockNews.com cut DRDGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. HC Wainwright reaffirmed a “buy” rating and set a $13.25 target price on shares of DRDGOLD in a research note on Friday, October 18th.

DRDGOLD Price Performance

The business’s 50-day simple moving average is $9.37 and its 200-day simple moving average is $9.63.

Institutional Investors Weigh In On DRDGOLD

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. American Century Companies Inc. increased its holdings in DRDGOLD by 36.8% in the second quarter. American Century Companies Inc. now owns 679,600 shares of the basic materials company’s stock worth $5,851,000 after buying an additional 182,900 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in shares of DRDGOLD in the 2nd quarter valued at $86,000. Dimensional Fund Advisors LP boosted its holdings in DRDGOLD by 270.4% in the second quarter. Dimensional Fund Advisors LP now owns 79,277 shares of the basic materials company’s stock worth $683,000 after purchasing an additional 57,875 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in DRDGOLD by 68.4% during the second 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 in the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of DRDGOLD by 34.3% during the 2nd quarter. Marshall Wace LLP now owns 208,006 shares of the basic materials company’s stock valued at $1,791,000 after acquiring an additional 53,081 shares during the last quarter. 14.70% of the stock is owned by hedge funds and other institutional investors.

DRDGOLD Company Profile

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.