DRDGOLD (NYSE:DRD) Sets New 1-Year High – Here’s Why

Shares of DRDGOLD Limited (NYSE:DRD) reached a new 52-week high on Thursday . The company traded as high as $32.25 and last traded at $32.0350, with a volume of 423284 shares changing hands. The stock had previously closed at $30.49.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of DRDGOLD from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 17th. HC Wainwright lifted their price objective on DRDGOLD to $36.25 and gave the company a “buy” rating in a research note on Friday, October 17th. Zacks Research upgraded DRDGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of DRDGOLD in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.25.

DRDGOLD Price Performance

The stock has a 50 day moving average of $27.73 and a 200 day moving average of $20.75.

Institutional Trading of DRDGOLD

Hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. boosted its stake in DRDGOLD by 11.5% in the second quarter. Osaic Holdings Inc. now owns 6,892 shares of the basic materials company’s stock worth $92,000 after buying an additional 713 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of DRDGOLD by 88.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,690 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 792 shares during the last quarter. Merit Financial Group LLC lifted its holdings in shares of DRDGOLD by 7.0% in the 3rd quarter. Merit Financial Group LLC now owns 12,277 shares of the basic materials company’s stock worth $339,000 after acquiring an additional 800 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of DRDGOLD by 24.8% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 5,387 shares of the basic materials company’s stock valued at $149,000 after purchasing an additional 1,070 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of DRDGOLD by 8.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 16,731 shares of the basic materials company’s stock valued at $462,000 after purchasing an additional 1,247 shares during the last quarter. Institutional investors own 14.70% of the company’s stock.

About DRDGOLD

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.