DRDGOLD (NYSE:DRD) Shares Gap Up – Time to Buy?

DRDGOLD Limited (NYSE:DRD)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $9.30, but opened at $9.77. DRDGOLD shares last traded at $9.69, with a volume of 49,648 shares traded.

Analysts Set New Price Targets

Several analysts recently weighed in on DRD shares. HC Wainwright upped their price objective on DRDGOLD from $13.25 to $17.25 and gave the stock a “buy” rating in a research report on Wednesday. StockNews.com cut shares of DRDGOLD from a “buy” rating to a “hold” rating in a report on Thursday, September 26th.

DRDGOLD Stock Performance

The business’s 50 day simple moving average is $9.27 and its two-hundred day simple moving average is $9.65.

Hedge Funds Weigh In On DRDGOLD

Large investors have recently bought and sold shares of the company. Van ECK Associates Corp increased its stake in shares of DRDGOLD by 24.2% in the third quarter. Van ECK Associates Corp now owns 6,621,470 shares of the basic materials company’s stock valued at $63,831,000 after buying an additional 1,291,541 shares during the period. American Century Companies Inc. grew 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 worth $5,851,000 after acquiring an additional 182,900 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in DRDGOLD by 12.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 435,243 shares of the basic materials company’s stock valued at $4,196,000 after acquiring an additional 48,442 shares during the period. U S Global Investors Inc. acquired a new position in DRDGOLD in the 3rd quarter valued at approximately $2,388,000. Finally, Marshall Wace LLP raised its stake in shares of 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 acquiring an additional 53,081 shares during 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.