DRDGOLD (NYSE:DRD) Shares Gap Down to $8.32

DRDGOLD Limited (NYSE:DRD) shares gapped down prior to trading on Tuesday . The stock had previously closed at $8.32, but opened at $7.99. DRDGOLD shares last traded at $7.98, with a volume of 83,638 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of DRDGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th.

DRDGOLD Stock Performance

The firm’s 50-day moving average price is $7.98 and its 200 day moving average price is $8.13. The company has a market cap of $685.63 million, a price-to-earnings ratio of 11.21 and a beta of 1.29.

DRDGOLD Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, March 21st. Investors of record on Friday, March 8th were issued a dividend of $0.1058 per share. This represents a yield of 5%. The ex-dividend date of this dividend was Thursday, March 7th. DRDGOLD’s dividend payout ratio is currently 22.54%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its holdings in DRDGOLD by 317,900.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,180 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 3,179 shares during the period. Systematic Alpha Investments LLC acquired a new position in DRDGOLD during the third quarter valued at approximately $53,000. Mutual Advisors LLC bought a new position in DRDGOLD in the fourth quarter valued at approximately $102,000. Hennion & Walsh Asset Management Inc. bought a new position in DRDGOLD in the first quarter valued at approximately $131,000. Finally, SG Americas Securities LLC lifted its stake in DRDGOLD by 36.4% in the third quarter. SG Americas Securities LLC now owns 23,751 shares of the basic materials company’s stock valued at $197,000 after buying an additional 6,341 shares in the last quarter. Institutional investors and hedge funds 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.