DRDGOLD (NYSE:DRD) Shares Gap Down – Should You Sell?

Shares of DRDGOLD Limited (NYSE:DRD) gapped down prior to trading on Wednesday . The stock had previously closed at $9.92, but opened at $9.62. DRDGOLD shares last traded at $9.66, with a volume of 47,099 shares traded.

Analysts Set New Price Targets

DRD has been the topic of several research reports. StockNews.com lowered DRDGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. HC Wainwright reiterated a “buy” rating and set a $13.25 price objective on shares of DRDGOLD in a research note on Friday, October 18th.

DRDGOLD Stock Performance

The business has a 50 day moving average of $10.44 and a two-hundred day moving average of $9.44.

DRDGOLD Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, September 13th were issued a dividend of $0.1126 per share. This represents a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, September 13th. This is a positive change from DRDGOLD’s previous semi-annual dividend of $0.11.

Institutional Investors Weigh In On DRDGOLD

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DRD. EverSource Wealth Advisors LLC grew its stake in DRDGOLD by 68.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,529 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 1,840 shares during the last quarter. Blue Trust Inc. boosted its holdings in DRDGOLD by 4,107.5% during the second quarter. Blue Trust Inc. now owns 6,143 shares of the basic materials company’s stock worth $50,000 after buying an additional 5,997 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in DRDGOLD in the second quarter valued at $86,000. Hennion & Walsh Asset Management Inc. boosted its stake in shares of DRDGOLD by 11.3% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 17,778 shares of the basic materials company’s stock worth $153,000 after acquiring an additional 1,802 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of DRDGOLD in the 3rd quarter valued at about $431,000. 14.70% of the stock is currently owned by hedge funds and other institutional investors.

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.