DRDGOLD (NYSE:DRD) Stock Rating Upgraded by Zacks Research
by Michael Walen · The Markets DailyDRDGOLD (NYSE:DRD – Get Free Report) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.
Several other analysts have also recently issued reports on the stock. HC Wainwright upped their price target on shares of DRDGOLD to $46.50 and gave the company a “buy” rating in a report on Friday, January 30th. Weiss Ratings reissued a “buy (b)” rating on shares of DRDGOLD in a research report on Wednesday, January 21st. Finally, Wall Street Zen upgraded shares of DRDGOLD from a “buy” rating to a “strong-buy” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $46.50.
Check Out Our Latest Analysis on DRDGOLD
DRDGOLD Stock Up 5.5%
Shares of DRD opened at $35.90 on Thursday. The business’s 50 day moving average is $33.70 and its two-hundred day moving average is $27.74. DRDGOLD has a 52-week low of $10.73 and a 52-week high of $39.37.
Institutional Trading of DRDGOLD
A number of institutional investors and hedge funds have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership lifted its position in shares of DRDGOLD by 239.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 989,089 shares of the basic materials company’s stock worth $27,299,000 after buying an additional 697,840 shares during the last quarter. American Century Companies Inc. lifted its holdings in DRDGOLD by 0.4% in the second quarter. American Century Companies Inc. now owns 945,945 shares of the basic materials company’s stock worth $12,609,000 after acquiring an additional 4,030 shares during the last quarter. Amundi acquired a new position in DRDGOLD in the third quarter valued at approximately $17,467,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in DRDGOLD by 1.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 570,807 shares of the basic materials company’s stock valued at $15,754,000 after acquiring an additional 6,740 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of DRDGOLD by 91.9% during the third quarter. Millennium Management LLC now owns 397,000 shares of the basic materials company’s stock valued at $10,957,000 after purchasing an additional 190,152 shares during the last quarter. 14.70% of the stock is owned by institutional investors and hedge funds.
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.