DRDGOLD (NYSE:DRD) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why
by Danessa Lincoln · The Markets DailyDRDGOLD Limited (NYSE:DRD – Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $28.85 and traded as high as $38.81. DRDGOLD shares last traded at $38.2080, with a volume of 412,033 shares changing hands.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the company. Wall Street Zen upgraded DRDGOLD from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Weiss Ratings reissued a “buy (b)” rating on shares of DRDGOLD in a report on Wednesday, January 21st. Zacks Research upgraded DRDGOLD from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 19th. Finally, HC Wainwright increased their price objective on DRDGOLD to $46.50 and gave the stock a “buy” rating in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $46.50.
Read Our Latest Analysis on DRD
DRDGOLD Stock Down 0.6%
The business’s 50 day moving average price is $34.52 and its 200 day moving average price is $29.02.
DRDGOLD Announces Dividend
The business also recently declared a dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, March 13th will be issued a $0.3122 dividend. The ex-dividend date is Friday, March 13th. This represents a dividend yield of 174.0%.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of DRD. Cim LLC purchased a new position in shares of DRDGOLD during the 4th quarter worth $551,000. XTX Topco Ltd acquired a new stake in shares of DRDGOLD in the 4th quarter valued at about $475,000. Quadrature Capital Ltd purchased a new stake in DRDGOLD during the 4th quarter valued at approximately $308,000. OLD Mission Capital LLC boosted its holdings in DRDGOLD by 104.9% in the 4th quarter. OLD Mission Capital LLC now owns 25,743 shares of the basic materials company’s stock valued at $798,000 after purchasing an additional 13,178 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of DRDGOLD by 265.4% during the 4th quarter. AQR Capital Management LLC now owns 314,679 shares of the basic materials company’s stock valued at $9,758,000 after acquiring an additional 228,561 shares during the period. Institutional investors and hedge funds own 14.70% of the company’s stock.
DRDGOLD Company Profile
DRDGOLD (NYSE: DRD) is a South African gold producer focused on the retreatment of surface tailings from historic mining operations on the Witwatersrand Basin. The company recovers fine gold particles from low‐grade tailings using an integrated, carbon‐in‐leach (CIL) processing circuit that is designed to maximize yield and minimize environmental impact. DRDGOLD’s operations are centered on sustainable resource utilization, transforming previously discarded material into saleable gold doré bars.
The company operates two primary tailings retreatment facilities on the West Rand and East Rand of Gauteng Province.