DRDGOLD (NYSE:DRD) Lowered to Hold Rating by Zacks Research

Zacks Research lowered shares of DRDGOLD (NYSE:DRD) from a strong-buy rating to a hold rating in a report released on Tuesday,Zacks.com reports.

A number of other equities analysts have also issued reports on the company. HC Wainwright upped their target price on DRDGOLD to $46.50 and gave the company a “buy” rating in a research report on Friday, January 30th. Weiss Ratings reissued a “buy (b)” rating on shares of DRDGOLD in a research report on Wednesday, January 21st. Finally, Wall Street Zen upgraded shares of DRDGOLD from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $46.50.

DRDGOLD Stock Performance

Shares of DRDGOLD stock opened at $30.82 on Tuesday. DRDGOLD has a 1-year low of $12.75 and a 1-year high of $39.37. The business has a 50-day moving average of $33.12 and a 200-day moving average of $30.51.

DRDGOLD (NYSE:DRD) last released its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $6.74 EPS for the quarter. As a group, analysts predict that DRDGOLD will post 1.06 EPS for the current fiscal year.

DRDGOLD Announces Dividend

The company also recently disclosed a dividend, which was paid on Monday, March 23rd. Shareholders of record on Friday, March 13th were paid a dividend of $0.3122 per share. The ex-dividend date was Friday, March 13th. This represents a yield of 207.0%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DRD. Arrowstreet Capital Limited Partnership raised its position 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 acquiring an additional 697,840 shares in the last quarter. American Century Companies Inc. increased its stake in DRDGOLD by 0.4% during the second quarter. American Century Companies Inc. now owns 945,945 shares of the basic materials company’s stock valued at $12,609,000 after purchasing an additional 4,030 shares during the last quarter. Amundi bought a new stake in DRDGOLD during the third quarter valued at $17,467,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of DRDGOLD by 1.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 570,807 shares of the basic materials company’s stock worth $15,754,000 after purchasing an additional 6,740 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of DRDGOLD by 91.9% during the third quarter. Millennium Management LLC now owns 397,000 shares of the basic materials company’s stock worth $10,957,000 after purchasing an additional 190,152 shares during the period. Institutional investors and hedge funds own 14.70% of the company’s stock.

DRDGOLD Company Profile

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.