DRDGOLD (NYSE:DRD) Shares Gap Down – Here’s What Happened

DRDGOLD Limited (NYSE:DRD) shares gapped down prior to trading on Wednesday . The stock had previously closed at $29.83, but opened at $28.06. DRDGOLD shares last traded at $28.2350, with a volume of 115,675 shares trading hands.

Wall Street Analysts Forecast Growth

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

DRDGOLD Stock Performance

The firm’s 50 day simple moving average is $34.41 and its 200-day simple moving average is $30.03.

DRDGOLD (NYSE:DRD) last issued its earnings results on Wednesday, February 18th. The basic materials company reported $6.74 EPS for the quarter. The business had revenue of $152.48 million during the quarter. As a group, sell-side analysts predict that DRDGOLD Limited will post 1.06 EPS for the current year.

DRDGOLD Announces Dividend

The business also recently disclosed a dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, March 13th will be given a $0.3122 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a yield of 207.0%.

Institutional Investors Weigh In On DRDGOLD

Several institutional investors and hedge funds have recently modified their holdings of DRD. Banque Cantonale Vaudoise purchased a new stake in shares of DRDGOLD during the 4th quarter valued at about $42,000. Farther Finance Advisors LLC boosted its holdings in 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 period. BNP Paribas Financial Markets acquired a new stake in DRDGOLD in the third quarter valued at approximately $102,000. Blue Trust Inc. grew its position in DRDGOLD by 21.8% in the fourth quarter. Blue Trust Inc. now owns 4,476 shares of the basic materials company’s stock valued at $139,000 after acquiring an additional 800 shares in the last quarter. Finally, Smartleaf Asset Management LLC purchased a new stake in shares of DRDGOLD during the fourth quarter valued at approximately $140,000. Hedge funds and other institutional investors 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.