DRDGOLD Limited (NYSE:DRD) Short Interest Down 7.3% in January

DRDGOLD Limited (NYSE:DRD) was the recipient of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 1,650,000 shares, a decrease of 7.3% from the January 15th total of 1,780,000 shares. Based on an average daily volume of 237,000 shares, the short-interest ratio is currently 7.0 days.

DRDGOLD Trading Down 5.8 %

DRDGOLD stock traded down $0.64 during trading hours on Monday, hitting $10.34. The stock had a trading volume of 232,654 shares, compared to its average volume of 229,281. DRDGOLD has a fifty-two week low of $6.48 and a fifty-two week high of $12.70. The company has a 50-day moving average of $9.60 and a two-hundred day moving average of $9.74.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Blue Trust Inc. increased its holdings in DRDGOLD by 488.4% in the 3rd quarter. Blue Trust Inc. now owns 36,144 shares of the basic materials company’s stock valued at $348,000 after buying an additional 30,001 shares during the period. U S Global Investors Inc. bought a new stake in DRDGOLD in the third quarter valued at about $2,388,000. Van ECK Associates Corp increased 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 acquiring an additional 1,291,541 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position 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 worth $4,196,000 after purchasing an additional 48,442 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in DRDGOLD during the third quarter worth about $431,000. 14.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, HC Wainwright boosted their price objective on shares of DRDGOLD from $13.25 to $17.25 and gave the stock a “buy” rating in a report on Wednesday, January 22nd.

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.