DRDGOLD (NYSE:DRD) Lowered to Hold Rating by StockNews.com

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

Separately, HC Wainwright decreased their price target on DRDGOLD from $17.25 to $16.25 and set a “buy” rating for the company in a research note on Wednesday, February 19th.

DRDGOLD Trading Up 2.4%

Shares of DRD stock opened at $14.23 on Tuesday. DRDGOLD has a 12-month low of $7.64 and a 12-month high of $17.60. The business’s fifty day simple moving average is $14.80 and its 200-day simple moving average is $11.74. The company has a market cap of $1.23 billion, a PE ratio of 11.29 and a beta of 0.40.

DRDGOLD Announces Dividend

The business also recently declared an annual dividend, which was paid on Thursday, March 27th. Shareholders of record on Friday, March 14th were paid a dividend of $0.1628 per share. The ex-dividend date was Friday, March 14th. This represents a yield of 1.8%. DRDGOLD’s payout ratio is 19.05%.

Institutional Investors Weigh In On DRDGOLD

Several institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. raised its stake in DRDGOLD by 5.7% in the 1st quarter. American Century Companies Inc. now owns 941,915 shares of the basic materials company’s stock worth $14,571,000 after acquiring an additional 50,810 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of DRDGOLD by 2.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 514,199 shares of the basic materials company’s stock valued at $7,955,000 after purchasing an additional 12,099 shares during the period. Invesco Ltd. raised its stake in shares of DRDGOLD by 8.1% in the fourth quarter. Invesco Ltd. now owns 266,360 shares of the basic materials company’s stock worth $2,299,000 after purchasing an additional 20,000 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new stake in shares of DRDGOLD during the fourth quarter worth about $1,449,000. Finally, U S Global Investors Inc. acquired a new stake in shares of DRDGOLD during the first quarter worth about $2,150,000. 14.70% of the stock is currently owned by institutional investors and hedge funds.

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.