Short Interest in DRDGOLD Limited (NYSE:DRD) Declines By 11.2%

DRDGOLD Limited (NYSE:DRD) saw a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 1,660,000 shares, a decline of 11.2% from the October 31st total of 1,870,000 shares. Based on an average daily volume of 318,100 shares, the days-to-cover ratio is currently 5.2 days.

Analyst Upgrades and Downgrades

DRD has been the topic of several recent research reports. StockNews.com cut DRDGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. HC Wainwright reissued a “buy” rating and issued a $13.25 target price on shares of DRDGOLD in a report on Friday, October 18th.

DRDGOLD Stock Up 2.3 %

DRDGOLD stock traded up $0.22 during trading hours on Friday, reaching $9.74. 125,883 shares of the stock were exchanged, compared to its average volume of 258,922. DRDGOLD has a 52-week low of $6.48 and a 52-week high of $12.70. The firm’s 50 day moving average is $10.56 and its 200 day moving average is $9.51.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in DRD. Hennion & Walsh Asset Management Inc. boosted its holdings in DRDGOLD by 11.3% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 17,778 shares of the basic materials company’s stock valued at $153,000 after purchasing an additional 1,802 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of DRDGOLD by 68.4% in the second quarter. EverSource Wealth Advisors LLC now owns 4,529 shares of the basic materials company’s stock valued at $39,000 after buying an additional 1,840 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of DRDGOLD by 4,107.5% in the second quarter. Blue Trust Inc. now owns 6,143 shares of the basic materials company’s stock valued at $50,000 after buying an additional 5,997 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in DRDGOLD during the second quarter worth $86,000. Finally, Virtu Financial LLC purchased a new position in DRDGOLD in the third quarter worth $119,000. 14.70% of the stock is currently owned by institutional investors and hedge funds.

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.