DRDGOLD (NYSE:DRD) Given Buy Rating at HC Wainwright

DRDGOLD (NYSE:DRD)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a note issued to investors on Friday, Benzinga reports. They presently have a $13.25 target price on the basic materials company’s stock. HC Wainwright’s price target suggests a potential upside of 15.92% from the stock’s previous close.

Separately, StockNews.com lowered DRDGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th.

DRDGOLD Price Performance

Shares of DRDGOLD stock opened at $11.43 on Friday. The business has a 50 day simple moving average of $9.29 and a two-hundred day simple moving average of $8.97. DRDGOLD has a 12 month low of $6.48 and a 12 month high of $11.55. The stock has a market capitalization of $988.23 million, a P/E ratio of 13.45 and a beta of 1.13.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its position in DRDGOLD by 68.4% in the second quarter. EverSource Wealth Advisors LLC now owns 4,529 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 1,840 shares during the period. Blue Trust Inc. grew its position in DRDGOLD by 4,107.5% in the second quarter. Blue Trust Inc. now owns 6,143 shares of the basic materials company’s stock worth $50,000 after acquiring an additional 5,997 shares during the period. Thompson Siegel & Walmsley LLC purchased a new position in DRDGOLD in the second quarter worth approximately $86,000. Hennion & Walsh Asset Management Inc. purchased a new position in DRDGOLD in the first quarter worth approximately $131,000. Finally, Dimensional Fund Advisors LP grew its position in DRDGOLD by 270.4% in the second quarter. Dimensional Fund Advisors LP now owns 79,277 shares of the basic materials company’s stock worth $683,000 after acquiring an additional 57,875 shares during the period. 14.70% of the stock is currently owned by hedge funds and other institutional investors.

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.