DRDGOLD (NYSE:DRD) Shares Gap Down – Here’s What Happened

DRDGOLD Limited (NYSE:DRD)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $11.37, but opened at $10.87. DRDGOLD shares last traded at $11.40, with a volume of 94,315 shares.

Wall Street Analyst Weigh In

Several research firms recently commented on DRD. HC Wainwright dropped their price target on shares of DRDGOLD from $17.25 to $16.25 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. StockNews.com raised shares of DRDGOLD from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th.

DRDGOLD Trading Up 1.0 %

The firm’s 50 day moving average is $9.79 and its two-hundred day moving average is $9.82. The stock has a market cap of $992.55 million, a price-to-earnings ratio of 9.11 and a beta of 1.08.

Institutional Trading of DRDGOLD

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp grew its position in shares of DRDGOLD by 24.2% during the third quarter. Van ECK Associates Corp now owns 6,621,470 shares of the basic materials company’s stock worth $63,831,000 after acquiring an additional 1,291,541 shares during the last quarter. American Century Companies Inc. lifted its position in shares of DRDGOLD by 72.9% in the 4th quarter. American Century Companies Inc. now owns 891,105 shares of the basic materials company’s stock valued at $7,690,000 after acquiring an additional 375,705 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. purchased a new stake in shares of DRDGOLD in the fourth quarter worth approximately $1,449,000. ABC Arbitrage SA purchased a new stake in shares of DRDGOLD during the fourth quarter worth $1,140,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in DRDGOLD during the fourth quarter valued at approximately $1,045,000. Institutional investors own 14.70% of the company’s stock.

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.