DRDGOLD (NYSE:DRD) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of DRDGOLD (NYSE:DRD) from a hold rating to a buy rating in a research report sent to investors on Tuesday.

DRDGOLD Trading Down 0.4 %

Shares of DRD opened at $8.48 on Tuesday. The stock has a 50-day simple moving average of $7.82 and a 200-day simple moving average of $8.13. DRDGOLD has a 1 year low of $6.48 and a 1 year high of $13.85.

DRDGOLD Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, March 8th were paid a $0.1058 dividend. This represents a dividend yield of 5%. The ex-dividend date was Thursday, March 7th.

Hedge Funds Weigh In On DRDGOLD

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Trexquant Investment LP purchased a new position in shares of DRDGOLD in the 3rd quarter valued at about $320,000. Mutual Advisors LLC acquired a new stake in shares of DRDGOLD during the 4th quarter worth about $102,000. SG Americas Securities LLC raised its position in shares of DRDGOLD by 36.4% during the 3rd quarter. SG Americas Securities LLC now owns 23,751 shares of the basic materials company’s stock worth $197,000 after acquiring an additional 6,341 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of DRDGOLD during the 3rd quarter worth about $247,000. Finally, Acadian Asset Management LLC raised its position in shares of DRDGOLD by 6.8% during the 3rd quarter. Acadian Asset Management LLC now owns 1,467,309 shares of the basic materials company’s stock worth $12,161,000 after acquiring an additional 93,250 shares in the last quarter. Hedge funds and other institutional investors own 14.70% of the company’s stock.

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.