DRDGOLD (NYSE:DRD) Trading 4.8% Higher

DRDGOLD Limited (NYSE:DRD)’s stock price was up 4.8% during mid-day trading on Monday . The stock traded as high as $8.85 and last traded at $8.82. Approximately 209,681 shares traded hands during trading, a decline of 31% from the average daily volume of 302,389 shares. The stock had previously closed at $8.42.

Analysts Set New Price Targets

A number of brokerages have weighed in on DRD. StockNews.com lowered DRDGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th. HC Wainwright cut their price objective on DRDGOLD from $15.50 to $13.25 and set a “buy” rating for the company in a report on Thursday, August 22nd.

DRDGOLD Stock Performance

The company has a 50 day simple moving average of $9.15 and a 200-day simple moving average of $8.63.

DRDGOLD Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, September 13th will be paid a $0.1126 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a yield of 1.9%. This is a positive change from DRDGOLD’s previous semi-annual dividend of $0.11.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Marshall Wace LLP grew its holdings in shares of DRDGOLD by 34.3% during the 2nd quarter. Marshall Wace LLP now owns 208,006 shares of the basic materials company’s stock valued at $1,791,000 after purchasing an additional 53,081 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of DRDGOLD by 68.4% during the second quarter. EverSource Wealth Advisors LLC now owns 4,529 shares of the basic materials company’s stock valued at $39,000 after buying an additional 1,840 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of 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 buying an additional 57,875 shares during the period. Thompson Siegel & Walmsley LLC bought a new stake in shares of DRDGOLD in the 2nd quarter valued at about $86,000. Finally, American Century Companies Inc. grew its position in DRDGOLD by 36.8% during the 2nd quarter. American Century Companies Inc. now owns 679,600 shares of the basic materials company’s stock worth $5,851,000 after acquiring an additional 182,900 shares during the last quarter. 14.70% of the stock is 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.