StockNews.com Downgrades DRDGOLD (NYSE:DRD) to Hold

DRDGOLD (NYSE:DRD) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

DRDGOLD Price Performance

NYSE DRD traded down $0.08 during trading on Monday, hitting $8.54. 245,536 shares of the company’s stock traded hands, compared to its average volume of 329,173. The business has a 50 day moving average of $8.21 and a 200-day moving average of $8.05. DRDGOLD has a 12-month low of $6.48 and a 12-month high of $12.86.

Hedge Funds Weigh In On DRDGOLD

A number of institutional investors have recently added to or reduced their stakes in DRD. SG Americas Securities LLC grew its holdings in shares of DRDGOLD by 36.4% during the third quarter. SG Americas Securities LLC now owns 23,751 shares of the basic materials company’s stock worth $197,000 after purchasing an additional 6,341 shares in the last quarter. Jump Financial LLC bought a new stake in DRDGOLD during the third quarter valued at approximately $247,000. Van ECK Associates Corp grew its stake in DRDGOLD by 1.0% in the 3rd quarter. Van ECK Associates Corp now owns 6,060,083 shares of the basic materials company’s stock worth $50,298,000 after buying an additional 61,500 shares in the last quarter. Systematic Alpha Investments LLC bought a new position in shares of DRDGOLD in the 3rd quarter worth $53,000. Finally, Acadian Asset Management LLC raised its position in shares of DRDGOLD by 6.8% during the 3rd quarter. Acadian Asset Management LLC now owns 1,467,309 shares of the basic materials company’s stock valued at $12,161,000 after buying an additional 93,250 shares in the last quarter. 14.70% of the stock is currently owned by institutional investors.

DRDGOLD Company Profile

DRDGOLD Limited, a gold mining company, engages in the surface gold tailings retreatment business in South Africa. It also involved in the exploration, extraction, processing, and smelting activities. The company recovers gold from surface tailings in the Witwatersrand basin in Gauteng province. DRDGOLD Limited was formerly known as Durban Roodepoort Deep Limited and changed its name to DRDGOLD Limited in 2004.