DRDGOLD (NYSE:DRD) Trading Up 6.3% – Time to Buy?

DRDGOLD Limited (NYSE:DRD)’s share price was up 6.3% during trading on Tuesday . The company traded as high as $9.43 and last traded at $9.43. Approximately 118,765 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 198,014 shares. The stock had previously closed at $8.87.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $13.25 price target on shares of DRDGOLD in a report on Friday, October 18th. StockNews.com downgraded shares of DRDGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th.

DRDGOLD Stock Performance

The firm has a 50 day moving average price of $9.34 and a 200 day moving average price of $9.63.

Institutional Trading of DRDGOLD

Hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. lifted its stake in shares of DRDGOLD by 36.8% during the 2nd quarter. American Century Companies Inc. now owns 679,600 shares of the basic materials company’s stock worth $5,851,000 after purchasing an additional 182,900 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of DRDGOLD by 270.4% during the second quarter. Dimensional Fund Advisors LP now owns 79,277 shares of the basic materials company’s stock valued at $683,000 after buying an additional 57,875 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of DRDGOLD by 68.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,529 shares of the basic materials company’s stock worth $39,000 after buying an additional 1,840 shares during the last quarter. Marshall Wace LLP raised its stake in shares of DRDGOLD by 34.3% during the 2nd quarter. Marshall Wace LLP now owns 208,006 shares of the basic materials company’s stock worth $1,791,000 after acquiring an additional 53,081 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in DRDGOLD by 488.4% during the third 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 during the last quarter. Hedge funds and other institutional investors own 14.70% of the company’s stock.

DRDGOLD Company Profile

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.