DRDGOLD (NYSE:DRD) Sets New 1-Year High – Time to Buy?

Shares of DRDGOLD Limited (NYSE:DRD) reached a new 52-week high on Tuesday . The stock traded as high as $34.93 and last traded at $34.52, with a volume of 146774 shares changing hands. The stock had previously closed at $33.12.

Analyst Ratings Changes

Several analysts recently commented on DRD shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DRDGOLD in a research note on Wednesday, October 8th. HC Wainwright lifted their price objective on DRDGOLD to $36.25 and gave the company a “buy” rating in a report on Friday, October 17th. Wall Street Zen downgraded shares of DRDGOLD from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 3rd. Finally, Zacks Research upgraded shares of DRDGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, DRDGOLD currently has an average rating of “Moderate Buy” and an average target price of $36.25.

DRDGOLD Trading Up 4.3%

The business’s fifty day simple moving average is $29.75 and its 200 day simple moving average is $23.58.

Institutional Trading of DRDGOLD

A number of hedge funds and other institutional investors have recently modified their holdings of DRD. Farther Finance Advisors LLC lifted its holdings in 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 buying an additional 792 shares in the last quarter. GAMMA Investing LLC raised its position 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 worth $86,000 after acquiring an additional 1,469 shares during the last quarter. Osaic Holdings Inc. lifted 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 acquiring an additional 713 shares during the period. BNP Paribas Financial Markets bought a new position in DRDGOLD in the third quarter valued at about $102,000. Finally, Kiker Wealth Management LLC acquired a new stake in DRDGOLD in the second quarter worth about $142,000. Institutional investors and hedge funds own 14.70% of the company’s stock.

DRDGOLD Company Profile

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.