Kgabo Moloto Sells 11,586 Shares of DRDGOLD (NYSE:DRD) Stock

DRDGOLD Limited (NYSE:DRD) insider Kgabo Moloto sold 11,586 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $2.75, for a total value of $31,861.50. Following the sale, the insider owned 11,586 shares in the company, valued at approximately $31,861.50. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

DRDGOLD Stock Up 4.9%

NYSE DRD traded up $1.39 on Thursday, reaching $29.69. The company had a trading volume of 302,042 shares, compared to its average volume of 330,681. DRDGOLD Limited has a 1 year low of $19.47 and a 1 year high of $39.37. The firm has a 50-day moving average of $23.38 and a 200-day moving average of $27.12.

DRDGOLD (NYSE:DRD) last issued its quarterly earnings data on Wednesday, August 19th. The basic materials company reported $0.83 earnings per share (EPS) for the quarter. The firm had revenue of $188.03 million during the quarter. As a group, sell-side analysts predict that DRDGOLD Limited will post 3.12 EPS for the current fiscal year.

DRDGOLD Dividend Announcement

The company also recently declared a dividend, which will be paid on Monday, September 21st. Investors of record on Friday, September 11th will be issued a dividend of $0.7379 per share. This represents a yield of 530.0%. The ex-dividend date of this dividend is Friday, September 11th.

Key DRDGOLD News

Here are the key news stories impacting DRDGOLD this week:

• Neutral Sentiment: No new operating, earnings, production, or gold-price developments were reported in these filings, so the transactions do not change DRDGOLD’s underlying financial outlook.
• Negative Sentiment: Eight executives and insiders sold a combined 127,494 shares for approximately $350,609 on September 1 at an average price of $2.75 per share. The selling included CEO Daniel Pretorius, who reduced his position by 3.43%, CFO Henriette Hooijer, who reduced hers by 4.61%, and COO Jacobus Schoeman, who cut his holdings by 43.70%. DRDGOLD insider transaction filing
• Negative Sentiment: Several other insiders made sizable reductions: Henry Gouws sold 84.65% of his position, while Lihan Laas and Dean Lindecke each reduced their holdings by 50%. Kevin Kruger and Ryno Bornman each cut ownership by roughly 45%. Although insider sales can reflect personal liquidity or compensation-related transactions rather than a negative business view, the breadth of the selling may create a short-term overhang for DRD. Additional DRDGOLD insider transaction filing

Institutional Trading of DRDGOLD

Several institutional investors have recently added to or reduced their stakes in DRD. Arrowstreet Capital Limited Partnership grew its holdings in DRDGOLD by 239.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 989,089 shares of the basic materials company’s stock worth $27,299,000 after acquiring an additional 697,840 shares in the last quarter. Amundi bought a new stake in shares of DRDGOLD in the 3rd quarter worth about $17,467,000. AQR Capital Management LLC raised its stake in shares of DRDGOLD by 265.4% in 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. Millennium Management LLC raised its stake in shares of DRDGOLD by 91.9% in the 3rd 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, Lazard Asset Management LLC bought a new position in shares of DRDGOLD during the fourth quarter worth about $5,351,000. 14.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on DRD. HC Wainwright upped their price objective on shares of DRDGOLD from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Wall Street Zen lowered DRDGOLD from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of DRDGOLD in a research note on Monday, August 3rd. Finally, Zacks Research downgraded DRDGOLD from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 4th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $35.00.

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.