Jacobus Schoeman Sells 19,403 Shares of DRDGOLD (NYSE:DRD) Stock

DRDGOLD Limited (NYSE:DRD) COO Jacobus Schoeman sold 19,403 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $2.75, for a total value of $53,358.25. Following the sale, the chief operating officer directly owned 25,000 shares of the company’s stock, valued at $68,750. This represents a 43.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

DRDGOLD Stock Down 3.6%

Shares of DRDGOLD stock opened at $28.54 on Friday. The stock’s fifty day moving average is $23.69 and its two-hundred day moving average is $27.09. DRDGOLD Limited has a 52 week low of $19.47 and a 52 week high of $39.37.

DRDGOLD (NYSE:DRD) last released its earnings results on Wednesday, August 19th. The basic materials company reported $0.83 earnings per share for the quarter. The business had revenue of $188.03 million for the quarter. As a group, research analysts predict that DRDGOLD Limited will post 3.12 EPS for the current year.

DRDGOLD Announces Dividend

The business also recently declared a dividend, which will be paid on Monday, September 21st. Investors of record on Friday, September 11th will be paid a $0.7379 dividend. This represents a yield of 530.0%. The ex-dividend date of this dividend is Friday, September 11th.

Key DRDGOLD News

Here are the key news stories impacting DRDGOLD this week:

• Positive Sentiment: Strong year and gold-market exposure: Mining Weekly characterized the past year as “very good” for DRDGOLD, supporting the view that favorable gold prices and operating performance remain important catalysts for the gold-tailings retreatment company. It’s been a very good year for DRDGOLD
• Positive Sentiment: Dividend and analyst support: DRDGOLD declared a $0.7379-per-share dividend payable September 21 to shareholders of record September 11. HC Wainwright also raised its price target to $35 and maintained a Buy rating, while the reported analyst consensus is Hold with a $35 target.
• Positive Sentiment: Institutional accumulation: Several funds increased their holdings during the second quarter, including JPMorgan, Arrowstreet Capital, Jane Street and Bank of America. Institutional investors collectively own about 14.7% of the company, providing some evidence of continued professional-investor interest.
• Neutral Sentiment: Insider sales followed award vesting: CEO Daniel Pretorius, CFO Henriette Hooijer, COO Jacobus Schoeman and other insiders sold shares on September 1 at an average price of $2.75. The transactions followed deferred-award vesting, so they may represent routine tax or liquidity-related sales rather than a negative change in management’s view of the business. The CEO retained nearly 1 million shares after his sale. DRDGOLD stock gains as insider share sales follow deferred award vesting
• Negative Sentiment: Broad insider selling weighs on sentiment: Nine executives and insiders sold approximately 127,494 shares worth $350,609 in total. Several individuals reduced their positions by roughly 45% to 85%, while Zacks Research downgraded the stock to Strong Sell. The breadth of selling could create near-term concern despite the company’s favorable operating trends. DRDGOLD insider selling report

Institutional Trading of DRDGOLD

Hedge funds have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise bought a new position in DRDGOLD during the 4th quarter worth about $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. lifted its position 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 worth $92,000 after purchasing an additional 713 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of DRDGOLD in the 3rd quarter worth approximately $102,000. Finally, Smartleaf Asset Management LLC bought a new position in shares of DRDGOLD during the fourth quarter valued at approximately $140,000. 14.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DRD. Zacks Research downgraded shares of DRDGOLD from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 4th. HC Wainwright boosted their price target on DRDGOLD from $33.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of DRDGOLD in a research note on Monday, August 3rd. Finally, Wall Street Zen downgraded DRDGOLD from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $35.00.

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.