DRDGOLD (NYSE:DRD) Trading 5.2% Higher – Should You Buy?

DRDGOLD Limited (NYSE:DRD) traded up 5.2% during mid-day trading on Wednesday . The company traded as high as $10.20 and last traded at $10.16. 55,809 shares changed hands during trading, a decline of 82% from the average session volume of 304,133 shares. The stock had previously closed at $9.66.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. HC Wainwright restated a “buy” rating and set a $13.25 price objective on shares of DRDGOLD in a report on Friday, October 18th. StockNews.com cut shares of DRDGOLD from a “buy” rating to a “hold” rating in a report on Thursday, September 26th.

DRDGOLD Stock Performance

The stock’s fifty day moving average is $10.50 and its 200-day moving average is $9.54.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp lifted its stake in DRDGOLD by 24.2% in the third quarter. Van ECK Associates Corp now owns 6,621,470 shares of the basic materials company’s stock valued at $63,831,000 after buying an additional 1,291,541 shares in the last quarter. American Century Companies Inc. lifted its stake in DRDGOLD by 36.8% in the second quarter. American Century Companies Inc. now owns 679,600 shares of the basic materials company’s stock valued at $5,851,000 after buying an additional 182,900 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in DRDGOLD by 12.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 435,243 shares of the basic materials company’s stock valued at $4,196,000 after buying an additional 48,442 shares in the last quarter. U S Global Investors Inc. bought a new position in DRDGOLD in the third quarter valued at approximately $2,388,000. Finally, Marshall Wace LLP lifted its stake in DRDGOLD by 34.3% in 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 in the last quarter. Institutional investors own 14.70% of the company’s stock.

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.