Public Employees Retirement System of Ohio Decreases Stake in DRDGOLD Limited $DRD

Public Employees Retirement System of Ohio cut its stake in shares of DRDGOLD Limited (NYSE:DRD) by 42.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 73,694 shares of the basic materials company’s stock after selling 55,301 shares during the period. Public Employees Retirement System of Ohio’s holdings in DRDGOLD were worth $2,164,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new stake in DRDGOLD in the fourth quarter valued at approximately $42,000. Farther Finance Advisors LLC raised its holdings in shares of DRDGOLD by 33.5% in the 4th quarter. Farther Finance Advisors LLC now owns 2,256 shares of the basic materials company’s stock valued at $70,000 after purchasing an additional 566 shares in the last quarter. Osaic Holdings Inc. raised its holdings in shares of DRDGOLD by 11.5% in the 2nd 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 in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of DRDGOLD during the 3rd quarter worth $102,000. Finally, Blue Trust Inc. lifted its position in shares of DRDGOLD by 21.8% during the 4th quarter. Blue Trust Inc. now owns 4,476 shares of the basic materials company’s stock worth $139,000 after purchasing an additional 800 shares during the last quarter. 14.70% of the stock is currently owned by hedge funds and other institutional investors.

DRDGOLD Price Performance

DRDGOLD stock opened at $20.40 on Friday. DRDGOLD Limited has a fifty-two week low of $13.25 and a fifty-two week high of $39.37. The stock has a 50-day simple moving average of $22.56 and a 200-day simple moving average of $28.61.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Wall Street Zen downgraded shares of DRDGOLD from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 4th. Weiss Ratings cut DRDGOLD from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. HC Wainwright reaffirmed a “buy” rating and set a $35.00 price target on shares of DRDGOLD in a report on Thursday, July 16th. Finally, Zacks Research cut DRDGOLD from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, DRDGOLD currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

DRDGOLD 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.