DRDGOLD Limited (NYSE:DRD) Short Interest Update

DRDGOLD Limited (NYSE:DRD) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 1,280,000 shares, an increase of 10.3% from the March 15th total of 1,160,000 shares. Based on an average daily volume of 334,200 shares, the short-interest ratio is presently 3.8 days.

Institutional Trading of DRDGOLD

Hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its holdings in DRDGOLD by 317,900.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,180 shares of the basic materials company’s stock worth $25,000 after buying an additional 3,179 shares during the period. Russell Investments Group Ltd. bought a new position in shares of DRDGOLD during the 1st quarter worth approximately $36,000. Systematic Alpha Investments LLC bought a new position in shares of DRDGOLD during the 3rd quarter worth approximately $53,000. BNP Paribas Financial Markets bought a new position in shares of DRDGOLD during the 4th quarter worth approximately $91,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of DRDGOLD during the 4th quarter worth approximately $98,000. 14.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of DRDGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday.

DRDGOLD Stock Performance

DRDGOLD stock opened at $8.38 on Wednesday. The company’s 50-day moving average is $7.79 and its two-hundred day moving average is $8.13. DRDGOLD has a 1 year low of $6.48 and a 1 year high of $13.85.

DRDGOLD Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, March 21st. Investors of record on Friday, March 8th were given a $0.1058 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a dividend yield of 5%.

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.