DRDGOLD (NYSE:DRD) Shares Down 3.6% – Time to Sell?

DRDGOLD Limited (NYSE:DRD) dropped 3.6% on Wednesday . The company traded as low as $32.60 and last traded at $32.88. Approximately 128,509 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 535,313 shares. The stock had previously closed at $34.11.

Analyst Ratings Changes

DRD has been the subject of several recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of DRDGOLD in a research note on Wednesday, October 8th. HC Wainwright boosted their price target on shares of DRDGOLD to $36.25 and gave the stock a “buy” rating in a research note on Friday, October 17th. Zacks Research upgraded DRDGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Finally, Wall Street Zen raised DRDGOLD from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $36.25.

DRDGOLD Stock Down 2.8%

The stock has a fifty day moving average price of $28.19 and a 200 day moving average price of $21.81.

Institutional Trading of DRDGOLD

Several institutional investors have recently added to or reduced their stakes in DRD. Farther Finance Advisors LLC lifted its stake in shares of DRDGOLD by 88.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,690 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 792 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of DRDGOLD by 29.7% during the second quarter. GAMMA Investing LLC now owns 6,422 shares of the basic materials company’s stock valued at $86,000 after purchasing an additional 1,469 shares during the period. Osaic Holdings Inc. boosted its stake in shares of DRDGOLD by 11.5% during the second quarter. Osaic Holdings Inc. now owns 6,892 shares of the basic materials company’s stock valued at $92,000 after purchasing an additional 713 shares during the period. BNP Paribas Financial Markets purchased a new position in DRDGOLD in the 3rd quarter worth about $102,000. Finally, Kiker Wealth Management LLC bought a new stake in shares of DRDGOLD during the second quarter valued at approximately $142,000. Institutional investors own 14.70% of the company’s stock.

About DRDGOLD

DRDGOLD (NYSE: DRD) is a South African gold producer focused on the retreatment of surface tailings from historic mining operations on the Witwatersrand Basin. The company recovers fine gold particles from low‐grade tailings using an integrated, carbon‐in‐leach (CIL) processing circuit that is designed to maximize yield and minimize environmental impact. DRDGOLD’s operations are centered on sustainable resource utilization, transforming previously discarded material into saleable gold doré bars.

The company operates two primary tailings retreatment facilities on the West Rand and East Rand of Gauteng Province.