DRDGOLD (NYSE:DRD) Shares Gap Up – Here’s What Happened

DRDGOLD Limited (NYSE:DRD) shares gapped up before the market opened on Monday . The stock had previously closed at $9.23, but opened at $9.62. DRDGOLD shares last traded at $9.74, with a volume of 50,845 shares changing hands.

Analyst Ratings Changes

DRD has been the topic of several research analyst reports. StockNews.com downgraded DRDGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. HC Wainwright restated a “buy” rating and set a $13.25 price objective on shares of DRDGOLD in a research note on Friday, October 18th.

DRDGOLD Stock Performance

The company has a 50 day moving average price of $10.36 and a two-hundred day moving average price of $9.41.

DRDGOLD Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, September 13th were paid a dividend of $0.1126 per share. This represents a yield of 1.9%. The ex-dividend date of this dividend was Friday, September 13th. This is a boost from DRDGOLD’s previous semi-annual dividend of $0.11.

Institutional Investors Weigh In On DRDGOLD

Several hedge funds and other institutional investors have recently bought and sold shares of DRD. EverSource Wealth Advisors LLC lifted its holdings in shares of DRDGOLD by 68.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,529 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 1,840 shares during the last quarter. Blue Trust Inc. increased its stake in shares of DRDGOLD by 4,107.5% during the second quarter. Blue Trust Inc. now owns 6,143 shares of the basic materials company’s stock worth $50,000 after buying an additional 5,997 shares during the period. Thompson Siegel & Walmsley LLC acquired a new stake in DRDGOLD in the second quarter valued at approximately $86,000. Hennion & Walsh Asset Management Inc. lifted its stake in DRDGOLD by 11.3% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 17,778 shares of the basic materials company’s stock worth $153,000 after acquiring an additional 1,802 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in DRDGOLD during the 3rd quarter worth approximately $431,000. 14.70% of the stock is currently owned by institutional investors and hedge funds.

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.