DRDGOLD (NYSE:DRD) Shares Gap Up – Time to Buy?

DRDGOLD Limited (NYSE:DRD) shares gapped up prior to trading on Thursday . The stock had previously closed at $10.75, but opened at $11.25. DRDGOLD shares last traded at $11.24, with a volume of 71,701 shares.

Analyst Ratings Changes

Several research firms have commented on DRD. StockNews.com downgraded shares of DRDGOLD from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. HC Wainwright reaffirmed a “buy” rating and issued a $13.25 price objective on shares of DRDGOLD in a report on Friday.

DRDGOLD Stock Up 5.3 %

The company has a 50-day moving average price of $9.34 and a two-hundred day moving average price of $8.99. The company has a market capitalization of $1.04 billion, a PE ratio of 14.15 and a beta of 1.13.

DRDGOLD Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, September 13th were given a dividend of $0.1126 per share. The ex-dividend date of this dividend was Friday, September 13th. This is a boost from DRDGOLD’s previous semi-annual dividend of $0.11. This represents a dividend yield of 1.9%. DRDGOLD’s dividend payout ratio is currently 20.00%.

Hedge Funds Weigh In On DRDGOLD

A number of large investors have recently modified their holdings of DRD. Van ECK Associates Corp lifted its stake in DRDGOLD by 7.0% in the 1st quarter. Van ECK Associates Corp now owns 6,563,184 shares of the basic materials company’s stock worth $53,818,000 after purchasing an additional 430,603 shares in the last quarter. American Century Companies Inc. raised its position in shares of DRDGOLD by 36.8% in the second quarter. American Century Companies Inc. now owns 679,600 shares of the basic materials company’s stock worth $5,851,000 after buying an additional 182,900 shares in the last quarter. Marshall Wace LLP boosted its stake in DRDGOLD by 34.3% during the second quarter. Marshall Wace LLP now owns 208,006 shares of the basic materials company’s stock valued at $1,791,000 after buying an additional 53,081 shares during the period. Dimensional Fund Advisors LP grew its position in DRDGOLD by 270.4% during the second quarter. Dimensional Fund Advisors LP now owns 79,277 shares of the basic materials company’s stock worth $683,000 after buying an additional 57,875 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of DRDGOLD by 488.4% in the 3rd quarter. Blue Trust Inc. now owns 36,144 shares of the basic materials company’s stock valued at $348,000 after acquiring an additional 30,001 shares in the last quarter. 14.70% of the stock is currently owned by institutional investors.

About DRDGOLD

DRDGOLD Limited, a gold mining company, engages in the surface gold tailings retreatment business in South Africa. It also involved in the exploration, extraction, processing, and smelting activities. The company recovers gold from surface tailings in the Witwatersrand basin in Gauteng province. DRDGOLD Limited was formerly known as Durban Roodepoort Deep Limited and changed its name to DRDGOLD Limited in 2004.