DRDGOLD (NYSE:DRD) Stock Price Down 8.9% – Time to Sell?

DRDGOLD Limited (NYSE:DRD)’s share price traded down 8.9% during trading on Wednesday . The stock traded as low as $10.79 and last traded at $10.79. 346,667 shares traded hands during trading, an increase of 11% from the average session volume of 312,453 shares. The stock had previously closed at $11.84.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DRD. StockNews.com downgraded shares of DRDGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. HC Wainwright reaffirmed a “buy” rating and set a $13.25 price target on shares of DRDGOLD in a report on Friday, October 18th.

DRDGOLD Stock Performance

The stock has a 50-day simple moving average of $10.09 and a 200-day simple moving average of $9.31.

DRDGOLD Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 13th were given a $0.1126 dividend. This represents a yield of 1.9%. The ex-dividend date was Friday, September 13th. This is a positive change from DRDGOLD’s previous semi-annual dividend of $0.11.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its holdings 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 during the period. Blue Trust Inc. raised its position in DRDGOLD by 4,107.5% in the second quarter. Blue Trust Inc. now owns 6,143 shares of the basic materials company’s stock worth $50,000 after acquiring an additional 5,997 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in DRDGOLD in the 2nd quarter valued at about $86,000. Hennion & Walsh Asset Management Inc. lifted 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 acquiring an additional 1,802 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of DRDGOLD by 270.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 79,277 shares of the basic materials company’s stock valued at $683,000 after purchasing an additional 57,875 shares in the last quarter. 14.70% of the stock is currently owned by institutional investors.

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.