DRDGOLD (NYSE:DRD) Stock Price Down 11.1% – Time to Sell?

Shares of DRDGOLD Limited (NYSE:DRD) dropped 11.1% on Tuesday . The stock traded as low as $33.15 and last traded at $34.07. Approximately 289,102 shares were traded during trading, a decline of 22% from the average daily volume of 368,769 shares. The stock had previously closed at $38.32.

Analyst Ratings Changes

A number of research firms have recently issued reports on DRD. Zacks Research upgraded shares of DRDGOLD from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of DRDGOLD in a research note on Wednesday, January 21st. HC Wainwright lifted their target price on DRDGOLD to $46.50 and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, Wall Street Zen raised DRDGOLD from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $46.50.

DRDGOLD Price Performance

The firm has a 50-day moving average of $34.50 and a 200 day moving average of $28.85.

DRDGOLD Announces Dividend

The business also recently disclosed a dividend, which will be paid on Monday, March 23rd. Investors of record on Friday, March 13th will be paid a dividend of $0.3122 per share. This represents a dividend yield of 174.0%. The ex-dividend date is Friday, March 13th.

Hedge Funds Weigh In On DRDGOLD

Large investors have recently bought and sold shares of the stock. Cim LLC bought a new stake in shares of DRDGOLD during the 4th quarter worth about $551,000. XTX Topco Ltd bought a new stake in DRDGOLD during the fourth quarter worth approximately $475,000. Quadrature Capital Ltd bought a new stake in DRDGOLD during the fourth quarter worth approximately $308,000. OLD Mission Capital LLC lifted its position in DRDGOLD by 104.9% in the fourth quarter. OLD Mission Capital LLC now owns 25,743 shares of the basic materials company’s stock worth $798,000 after purchasing an additional 13,178 shares during the period. Finally, AQR Capital Management LLC boosted its stake in 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. Institutional investors and hedge funds own 14.70% of the company’s stock.

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.