DRDGOLD (NYSE:DRD) Shares Gap Up to $7.83

DRDGOLD Limited (NYSE:DRD)’s share price gapped up before the market opened on Monday . The stock had previously closed at $7.83, but opened at $8.10. DRDGOLD shares last traded at $8.12, with a volume of 85,211 shares changing hands.

Analysts Set New Price Targets

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

DRDGOLD Stock Performance

The company’s 50 day moving average price is $8.05 and its two-hundred day moving average price is $8.08.

DRDGOLD Cuts Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. AJOVista LLC purchased a new stake in DRDGOLD in the 4th quarter worth approximately $792,000. Trexquant Investment LP purchased a new stake in DRDGOLD during the 3rd quarter valued at approximately $320,000. Mutual Advisors LLC purchased a new stake in DRDGOLD during the 4th quarter valued at approximately $102,000. SG Americas Securities LLC grew its holdings in DRDGOLD by 36.4% during the 3rd quarter. SG Americas Securities LLC now owns 23,751 shares of the basic materials company’s stock valued at $197,000 after buying an additional 6,341 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in DRDGOLD by 1.2% during the 4th quarter. Van ECK Associates Corp now owns 6,132,581 shares of the basic materials company’s stock valued at $48,754,000 after buying an additional 72,498 shares in 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.