DRDGOLD (NYSE:DRD) Price Target Lowered to $16.25 at HC Wainwright

DRDGOLD (NYSE:DRD) had its price objective decreased by HC Wainwright from $17.25 to $16.25 in a research report sent to investors on Wednesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the basic materials company’s stock.

DRDGOLD Price Performance

Shares of DRD opened at $10.53 on Wednesday. DRDGOLD has a 52 week low of $6.48 and a 52 week high of $12.70. The business’s 50 day moving average price is $9.62 and its 200-day moving average price is $9.75.

Institutional Investors Weigh In On DRDGOLD

A number of institutional investors have recently modified their holdings of DRD. Blue Trust Inc. grew its position 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 last quarter. Van ECK Associates Corp lifted its stake in shares of 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 worth $63,831,000 after buying an additional 1,291,541 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of DRDGOLD by 12.5% during the third 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 buying 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 valued at approximately $431,000. Finally, Virtu Financial LLC purchased a new position in DRDGOLD in the 3rd quarter worth approximately $119,000. 14.70% of the stock is 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.