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

DRDGOLD Limited (NYSE:DRD)’s share price was up 6.3% on Tuesday . The company traded as high as $9.43 and last traded at $9.43. Approximately 118,765 shares traded hands 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.

Analysts Set New Price Targets

Several brokerages recently issued reports on DRD. StockNews.com lowered DRDGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. HC Wainwright restated a “buy” rating and set a $13.25 price objective on shares of DRDGOLD in a report on Friday, October 18th.

DRDGOLD Price Performance

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its position in DRDGOLD by 53.0% in the fourth quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company’s stock valued at $28,000 after buying an additional 1,122 shares during the last quarter. EverSource Wealth Advisors LLC lifted 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 acquiring an additional 1,840 shares during the period. Virtu Financial LLC purchased a new stake in shares of DRDGOLD in the 3rd quarter valued at $119,000. Blue Trust Inc. increased its stake in shares of DRDGOLD by 488.4% in the third quarter. Blue Trust Inc. now owns 36,144 shares of the basic materials company’s stock worth $348,000 after acquiring an additional 30,001 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of DRDGOLD during the third quarter worth $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.