DRDGOLD (NYSE:DRD) Stock Rating Lowered by StockNews.com

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

Separately, HC Wainwright lowered their target price 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 Price Performance

Shares of DRDGOLD stock opened at $10.10 on Thursday. The company’s 50-day moving average price is $9.14 and its 200-day moving average price is $8.76. DRDGOLD has a 12-month low of $6.48 and a 12-month high of $10.69.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in shares of 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 purchasing an additional 430,603 shares in the last quarter. American Century Companies Inc. boosted its holdings in DRDGOLD by 36.8% during the 2nd quarter. American Century Companies Inc. now owns 679,600 shares of the basic materials company’s stock valued at $5,851,000 after acquiring an additional 182,900 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in DRDGOLD during the 4th quarter worth approximately $507,000. Dimensional Fund Advisors LP increased its stake in DRDGOLD by 270.4% in the 2nd 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 period. Finally, Marshall Wace LLP lifted its position in DRDGOLD by 34.3% in 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 last quarter. Institutional investors own 14.70% of the company’s stock.

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.