DRDGOLD (NYSE:DRD) Price Target Raised to $17.25

DRDGOLD (NYSE:DRD) had its target price hoisted by equities researchers at HC Wainwright from $13.25 to $17.25 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. HC Wainwright’s price objective suggests a potential upside of 80.23% from the company’s previous close.

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

DRDGOLD Stock Performance

Shares of DRD opened at $9.57 on Wednesday. DRDGOLD has a 12 month low of $6.48 and a 12 month high of $12.70. The company’s fifty day moving average is $9.25 and its 200-day moving average is $9.64.

Hedge Funds Weigh In On DRDGOLD

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC grew its stake in DRDGOLD by 53.0% in the 4th 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 grew its position in shares of DRDGOLD by 68.4% in the second 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. Virtu Financial LLC bought a new position in shares of DRDGOLD in the third quarter worth about $119,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of DRDGOLD during the 4th quarter worth about $176,000. Finally, Blue Trust Inc. boosted its stake in DRDGOLD by 488.4% during the 3rd quarter. Blue Trust Inc. now owns 36,144 shares of the basic materials company’s stock valued at $348,000 after purchasing an additional 30,001 shares during the period. Institutional investors own 14.70% of the company’s stock.

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.