DRDGOLD (NYSE:DRD) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of DRDGOLD (NYSE:DRD) from a hold rating to a strong-buy rating in a research note published on Thursday morning,Zacks.com reports.

Several other research analysts also recently commented on DRD. Wall Street Zen upgraded shares of DRDGOLD from a “buy” rating to a “strong-buy” rating in a research report on Saturday. HC Wainwright raised their target price on DRDGOLD to $46.50 and gave the company a “buy” rating in a report on Friday, January 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of DRDGOLD in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $46.50.

DRDGOLD Price Performance

DRD stock opened at $35.90 on Thursday. The company’s 50-day moving average price is $33.70 and its two-hundred day moving average price is $27.74. DRDGOLD has a 12 month low of $10.73 and a 12 month high of $39.37.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership boosted its holdings 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. Amundi acquired a new position in DRDGOLD in the 3rd quarter worth about $17,467,000. AQR Capital Management LLC raised its position in DRDGOLD by 265.4% in the fourth 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 during the last quarter. Millennium Management LLC boosted its stake 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 valued at $10,957,000 after purchasing an additional 190,152 shares in the last quarter. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of DRDGOLD during the second quarter valued at about $2,505,000. 14.70% of the stock is currently owned by institutional investors.

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.