DRDGOLD (NYSE:DRD) Hits New 52-Week High – What’s Next?

DRDGOLD Limited (NYSE:DRD) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $14.29 and last traded at $14.24, with a volume of 55572 shares trading hands. The stock had previously closed at $13.49.

Analyst Upgrades and Downgrades

Several research firms recently commented on DRD. StockNews.com raised shares of DRDGOLD from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. HC Wainwright reduced their target price 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.

DRDGOLD Stock Performance

The company has a fifty day simple moving average of $11.15 and a two-hundred day simple moving average of $10.25. The firm has a market capitalization of $1.28 billion, a PE ratio of 11.76 and a beta of 1.09.

DRDGOLD Announces Dividend

The firm also recently declared an annual dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, March 14th will be given a $0.1628 dividend. The ex-dividend date is Friday, March 14th. This represents a dividend yield of 1.8%. DRDGOLD’s payout ratio is presently 19.05%.

Institutional Trading of DRDGOLD

Hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. increased its holdings 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 during the period. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. purchased a new position in DRDGOLD in the fourth quarter valued at about $1,449,000. ABC Arbitrage SA purchased a new stake in shares of DRDGOLD during the fourth quarter valued at about $1,140,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of DRDGOLD in the 4th quarter worth approximately $1,045,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of DRDGOLD by 15.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 502,100 shares of the basic materials company’s stock worth $4,333,000 after acquiring an additional 66,857 shares in the last quarter. Hedge funds and other 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.