DRDGOLD (NYSE:DRD) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of DRDGOLD (NYSE:DRD) from a buy rating to a strong-buy rating in a research report released on Saturday.

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

DRDGOLD Stock Up 4.1%

Shares of NYSE DRD opened at $15.64 on Friday. DRDGOLD has a twelve month low of $7.64 and a twelve month high of $17.60. The firm has a market cap of $1.35 billion, a P/E ratio of 12.41 and a beta of 0.40. The company has a 50 day moving average of $14.91 and a 200 day moving average of $11.87.

DRDGOLD Announces Dividend

The business also recently announced 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 of this dividend was Friday, March 14th. This represents a yield of 1.8%. DRDGOLD’s dividend payout ratio is presently 19.05%.

Institutional Investors Weigh In On DRDGOLD

Hedge funds have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. purchased a new stake in DRDGOLD during the 4th quarter valued at $98,000. Dimensional Fund Advisors LP raised its stake in DRDGOLD by 28.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 103,465 shares of the basic materials company’s stock valued at $893,000 after buying an additional 23,138 shares during the last quarter. Invesco Ltd. raised its stake in DRDGOLD by 8.1% during the 4th quarter. Invesco Ltd. now owns 266,360 shares of the basic materials company’s stock valued at $2,299,000 after buying an additional 20,000 shares during the last quarter. JPMorgan Chase & Co. raised its stake in DRDGOLD by 11.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 93,206 shares of the basic materials company’s stock valued at $899,000 after buying an additional 9,765 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in DRDGOLD by 41.3% during the 4th quarter. Blue Trust Inc. now owns 51,056 shares of the basic materials company’s stock valued at $441,000 after buying an additional 14,912 shares during the last quarter. 14.70% of the stock is currently owned by hedge funds and other institutional investors.

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.