DRDGOLD (NYSE:DRD) Stock Price Up 4.6%

DRDGOLD Limited (NYSE:DRD) shares rose 4.6% on Thursday . The stock traded as high as $8.28 and last traded at $8.18. Approximately 217,126 shares changed hands during trading, a decline of 36% from the average daily volume of 339,955 shares. The stock had previously closed at $7.82.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded DRDGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th.

DRDGOLD Trading Up 0.9 %

The company has a 50-day moving average price of $7.92 and a two-hundred day moving average price of $8.14.

DRDGOLD Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, March 8th were issued a dividend of $0.1058 per share. This represents a dividend yield of 5%. The ex-dividend date was Thursday, March 7th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of DRD. AJOVista LLC purchased a new position in shares of DRDGOLD during the fourth quarter worth about $792,000. Acadian Asset Management LLC grew its holdings in shares of DRDGOLD by 6.8% during the third quarter. Acadian Asset Management LLC now owns 1,467,309 shares of the basic materials company’s stock worth $12,161,000 after purchasing an additional 93,250 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of DRDGOLD by 1.2% during the fourth quarter. Van ECK Associates Corp now owns 6,132,581 shares of the basic materials company’s stock worth $48,754,000 after purchasing an additional 72,498 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of DRDGOLD during the fourth quarter worth about $507,000. Finally, Trexquant Investment LP purchased a new stake in DRDGOLD in the third quarter worth approximately $320,000. 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.