DRDGOLD (NYSE:DRD) Shares Break Above 200-Day Moving Average – Here’s What Happened

DRDGOLD Limited (NYSE:DRD) shares passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $26.25 and traded as high as $26.68. DRDGOLD shares last traded at $26.5110, with a volume of 337,765 shares.

Analyst Ratings Changes

Several research analysts recently weighed in on DRD shares. Zacks Research cut DRDGOLD from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 4th. HC Wainwright upped their price objective on DRDGOLD from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Wall Street Zen cut shares of DRDGOLD from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 4th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of DRDGOLD in a report on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, DRDGOLD has a consensus rating of “Hold” and a consensus target price of $35.00.

DRDGOLD Stock Performance

The stock has a 50-day moving average price of $25.08 and a 200 day moving average price of $26.20.

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

DRDGOLD Announces Dividend

The firm also recently announced a dividend, which was paid on Monday, September 21st. Stockholders of record on Friday, September 11th were given a dividend of $0.7379 per share. The ex-dividend date was Friday, September 11th. This represents a dividend yield of 551.0%.

Insider Transactions at DRDGOLD

In other DRDGOLD news, insider Henry Gouws sold 16,826 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $2.75, for a total transaction of $46,271.50. Following the transaction, the insider directly owned 3,050 shares of the company’s stock, valued at $8,387.50. This trade represents a 84.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Dean Lindecke sold 20,060 shares of DRDGOLD stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $2.75, for a total transaction of $55,165.00. Following the completion of the sale, the insider owned 20,060 shares in the company, valued at approximately $55,165. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 139,080 shares of company stock worth $382,470 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Institutional Trading of DRDGOLD

A number of institutional investors and hedge funds have recently modified their holdings of DRD. SG Americas Securities LLC acquired a new stake in DRDGOLD in the 1st quarter worth about $154,000. EverSource Wealth Advisors LLC raised its holdings in shares of DRDGOLD by 21.9% during the first quarter. EverSource Wealth Advisors LLC now owns 5,895 shares of the basic materials company’s stock valued at $173,000 after acquiring an additional 1,059 shares during the last quarter. Oakmont Investment Advisors Inc. purchased a new position in shares of DRDGOLD in the second quarter valued at approximately $202,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of DRDGOLD in the first quarter valued at approximately $341,000. Finally, Savant Capital LLC boosted its stake in shares of DRDGOLD by 8.2% in the fourth quarter. Savant Capital LLC now owns 14,777 shares of the basic materials company’s stock worth $458,000 after acquiring an additional 1,123 shares during the last quarter. Hedge funds and other institutional investors own 14.70% of the company’s stock.

About DRDGOLD

DRDGOLD Limited is a South African gold producer focused on the recovery of gold from historical mine dumps and tailings. Rather than operating conventional underground mines, the company reprocesses surface material generated by earlier mining activities, extracting gold that remains in the tailings.

Its principal operations are the Ergo Mining and Far West Gold Recoveries businesses. Ergo operates in the Witwatersrand Basin near Johannesburg and the East Rand, while Far West Gold Recoveries processes surface material from the western Witwatersrand.