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

DRDGOLD Limited (NYSE:DRD)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $14.08, but opened at $13.38. DRDGOLD shares last traded at $13.62, with a volume of 208,132 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. StockNews.com downgraded shares of DRDGOLD from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. HC Wainwright reduced their price target on shares of DRDGOLD from $17.25 to $16.25 and set a “buy” rating for the company in a report on Wednesday, February 19th.

DRDGOLD Trading Down 4.3 %

The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 10.64 and a beta of 1.09. The firm has a fifty day simple moving average of $10.51 and a 200 day simple moving average of $10.02.

DRDGOLD Dividend Announcement

The firm also recently declared an annual dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.1628 per share. This represents a yield of 1.8%. The ex-dividend date is Friday, March 14th. DRDGOLD’s dividend payout ratio is 19.05%.

Hedge Funds Weigh In On DRDGOLD

A number of hedge funds have recently modified their holdings of DRD. Connor Clark & Lunn Investment Management Ltd. raised its position in DRDGOLD by 12.5% in the 3rd 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 purchasing an additional 48,442 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of DRDGOLD during the third quarter worth $431,000. Virtu Financial LLC acquired a new position in shares of DRDGOLD during the third quarter valued at $119,000. JPMorgan Chase & Co. boosted its holdings in DRDGOLD by 11.7% in the third quarter. JPMorgan Chase & Co. now owns 93,206 shares of the basic materials company’s stock valued at $899,000 after acquiring an additional 9,765 shares during the last quarter. Finally, GAMMA Investing LLC increased 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 worth $28,000 after purchasing an additional 1,122 shares during the period. 14.70% of the stock is owned by institutional investors and hedge funds.

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.