DRDGOLD (NYSE:DRD) Lowered to Hold Rating by Zacks Research
by Danessa Lincoln · The Markets DailyZacks Research lowered shares of DRDGOLD (NYSE:DRD – Free Report) from a strong-buy rating to a hold rating in a report released on Monday,Zacks.com reports.
A number of other research analysts have also issued reports on the company. Wall Street Zen lowered DRDGOLD from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings downgraded DRDGOLD from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $46.50.
View Our Latest Research Report on DRDGOLD
DRDGOLD Stock Down 2.8%
Shares of DRD opened at $21.32 on Monday. The business’s 50 day moving average is $25.12 and its two-hundred day moving average is $30.01. DRDGOLD has a 52-week low of $13.17 and a 52-week high of $39.37.
Institutional Trading of DRDGOLD
A number of hedge funds have recently made changes to their positions in DRD. Arrowstreet Capital Limited Partnership lifted its holdings in shares of DRDGOLD by 239.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 989,089 shares of the basic materials company’s stock valued at $27,299,000 after buying an additional 697,840 shares during the last quarter. Amundi acquired a new position in shares of DRDGOLD during the 3rd quarter worth $17,467,000. AQR Capital Management LLC raised its holdings 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 purchasing an additional 228,561 shares in the last quarter. Millennium Management LLC lifted its stake in shares of DRDGOLD by 91.9% in the 3rd 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. Finally, Lazard Asset Management LLC bought a new stake in DRDGOLD in the fourth quarter worth $5,351,000. 14.70% of the stock is owned by hedge funds and other institutional investors.
About DRDGOLD
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.