DRDGOLD (NYSE:DRD) Raised to Buy at StockNews.com

StockNews.com upgraded shares of DRDGOLD (NYSE:DRD) from a hold rating to a buy rating in a research report sent to investors on Wednesday.

Separately, HC Wainwright cut their price target on shares of DRDGOLD from $15.50 to $13.25 and set a buy rating on the stock in a research note on Thursday, August 22nd.

DRDGOLD Stock Performance

Shares of NYSE DRD opened at $9.81 on Wednesday. DRDGOLD has a fifty-two week low of $6.48 and a fifty-two week high of $10.69. The company has a market cap of $848.16 million, a PE ratio of 11.41 and a beta of 1.12. The business has a 50-day simple moving average of $9.13 and a two-hundred day simple moving average of $8.68.

DRDGOLD Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.1126 per share. This represents a yield of 1.9%. The ex-dividend date is Friday, September 13th. This is an increase from DRDGOLD’s previous semi-annual dividend of $0.11. DRDGOLD’s payout ratio is presently 18.60%.

Institutional Investors Weigh In On DRDGOLD

A number of institutional investors and hedge funds have recently modified their holdings of the company. Van ECK Associates Corp increased its holdings in DRDGOLD by 7.0% in the 1st quarter. Van ECK Associates Corp now owns 6,563,184 shares of the basic materials company’s stock worth $53,818,000 after buying an additional 430,603 shares during the period. American Century Companies Inc. increased its stake in shares of DRDGOLD by 36.8% in the second quarter. American Century Companies Inc. now owns 679,600 shares of the basic materials company’s stock worth $5,851,000 after acquiring an additional 182,900 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in shares of DRDGOLD during the fourth quarter worth $507,000. Dimensional Fund Advisors LP raised its holdings in shares of DRDGOLD by 270.4% during the second quarter. Dimensional Fund Advisors LP now owns 79,277 shares of the basic materials company’s stock worth $683,000 after purchasing an additional 57,875 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in DRDGOLD by 34.3% during the second quarter. Marshall Wace LLP now owns 208,006 shares of the basic materials company’s stock valued at $1,791,000 after purchasing an additional 53,081 shares during the period. Institutional investors and hedge funds own 14.70% of the company’s stock.

About DRDGOLD

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.