Insider Selling: DRDGOLD (NYSE:DRD) CEO Sells $97,726.75 in Stock

DRDGOLD Limited (NYSE:DRD) CEO Daniel Pretorius sold 35,537 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $2.75, for a total transaction of $97,726.75. Following the transaction, the chief executive officer directly owned 999,816 shares of the company’s stock, valued at approximately $2,749,494. This represents a 3.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

DRDGOLD Stock Down 3.6%

DRDGOLD stock opened at $28.54 on Friday. The firm’s 50 day simple moving average is $23.69 and its 200 day simple moving average is $27.09. DRDGOLD Limited has a 1-year low of $19.47 and a 1-year high of $39.37.

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

DRDGOLD Announces Dividend

The firm also recently announced a dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 11th will be paid a $0.7379 dividend. This represents a yield of 530.0%. The ex-dividend date is Friday, September 11th.

Key DRDGOLD News

Here are the key news stories impacting DRDGOLD this week:

• Positive Sentiment: Strong year and gold-market exposure: Mining Weekly characterized the past year as “very good” for DRDGOLD, supporting the view that favorable gold prices and operating performance remain important catalysts for the gold-tailings retreatment company. It’s been a very good year for DRDGOLD
• Positive Sentiment: Dividend and analyst support: DRDGOLD declared a $0.7379-per-share dividend payable September 21 to shareholders of record September 11. HC Wainwright also raised its price target to $35 and maintained a Buy rating, while the reported analyst consensus is Hold with a $35 target.
• Positive Sentiment: Institutional accumulation: Several funds increased their holdings during the second quarter, including JPMorgan, Arrowstreet Capital, Jane Street and Bank of America. Institutional investors collectively own about 14.7% of the company, providing some evidence of continued professional-investor interest.
• Neutral Sentiment: Insider sales followed award vesting: CEO Daniel Pretorius, CFO Henriette Hooijer, COO Jacobus Schoeman and other insiders sold shares on September 1 at an average price of $2.75. The transactions followed deferred-award vesting, so they may represent routine tax or liquidity-related sales rather than a negative change in management’s view of the business. The CEO retained nearly 1 million shares after his sale. DRDGOLD stock gains as insider share sales follow deferred award vesting
• Negative Sentiment: Broad insider selling weighs on sentiment: Nine executives and insiders sold approximately 127,494 shares worth $350,609 in total. Several individuals reduced their positions by roughly 45% to 85%, while Zacks Research downgraded the stock to Strong Sell. The breadth of selling could create near-term concern despite the company’s favorable operating trends. DRDGOLD insider selling report

Analyst Upgrades and Downgrades

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

Institutional Trading of DRDGOLD

Hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC raised its stake in shares of DRDGOLD by 33.5% during the fourth quarter. Farther Finance Advisors LLC now owns 2,256 shares of the basic materials company’s stock worth $70,000 after acquiring an additional 566 shares in the last quarter. Osaic Holdings Inc. grew its holdings in shares of DRDGOLD by 8.1% during the 4th quarter. Osaic Holdings Inc. now owns 7,564 shares of the basic materials company’s stock valued at $235,000 after purchasing an additional 570 shares during the last quarter. Merit Financial Group LLC raised its position in DRDGOLD by 7.0% in the 3rd quarter. Merit Financial Group LLC now owns 12,277 shares of the basic materials company’s stock worth $339,000 after purchasing an additional 800 shares during the period. Campbell & CO Investment Adviser LLC raised its position in DRDGOLD by 3.5% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 26,451 shares of the basic materials company’s stock worth $820,000 after purchasing an additional 895 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in DRDGOLD by 21.9% in the first quarter. EverSource Wealth Advisors LLC now owns 5,895 shares of the basic materials company’s stock worth $173,000 after purchasing an additional 1,059 shares during the last quarter. 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.