DRDGOLD (NYSE:DRD) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of DRDGOLD (NYSE:DRD) from a hold rating to a buy rating in a research note published on Tuesday.

DRDGOLD Stock Performance

NYSE:DRD opened at $8.54 on Tuesday. DRDGOLD has a 52 week low of $6.48 and a 52 week high of $13.85. The stock’s fifty day moving average is $7.84 and its two-hundred day moving average is $8.14.

DRDGOLD Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, March 21st. Shareholders 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 yield of 5%.

Institutional Investors Weigh In On DRDGOLD

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DRD. Jane Street Group LLC purchased a new stake in DRDGOLD in the third quarter valued at $863,000. JPMorgan Chase & Co. purchased a new stake in shares of DRDGOLD in the 2nd quarter valued at $1,559,000. Goldman Sachs Group Inc. purchased a new stake in shares of DRDGOLD in the 4th quarter valued at $959,000. American Century Companies Inc. purchased a new stake in shares of DRDGOLD in the 1st quarter valued at $1,057,000. Finally, AJOVista LLC purchased a new stake in shares of DRDGOLD in the 4th quarter valued at $792,000. Hedge funds and other institutional investors own 14.70% of the company’s stock.

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.