DRDGOLD (NYSE:DRD) Cut to “Strong Sell” at Zacks Research

DRDGOLD (NYSE:DRD) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

Several other equities research analysts also recently weighed in on DRD. HC Wainwright upped their price target on DRDGOLD to $36.25 and gave the stock a “buy” rating in a report on Friday. Weiss Ratings restated a “buy (b)” rating on shares of DRDGOLD in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded DRDGOLD from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 17th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, DRDGOLD currently has an average rating of “Hold” and a consensus target price of $36.25.

DRDGOLD Price Performance

Shares of NYSE DRD opened at $25.87 on Monday. The stock’s 50-day moving average is $23.43 and its two-hundred day moving average is $17.65. DRDGOLD has a 1-year low of $8.38 and a 1-year high of $31.91. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 20.53 and a beta of 0.36.

Institutional Trading of DRDGOLD

Large investors have recently made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new stake in shares of DRDGOLD in the 1st quarter valued at about $39,000. Farther Finance Advisors LLC grew its stake in shares of DRDGOLD by 88.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,690 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 792 shares during the last quarter. Brooklyn Investment Group grew its stake in shares of DRDGOLD by 769.7% in the 1st quarter. Brooklyn Investment Group now owns 4,105 shares of the basic materials company’s stock valued at $64,000 after purchasing an additional 3,633 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of DRDGOLD by 52.9% in the 1st quarter. GAMMA Investing LLC now owns 4,953 shares of the basic materials company’s stock valued at $77,000 after purchasing an additional 1,713 shares during the last quarter. Finally, Osaic Holdings Inc. grew its stake in shares of DRDGOLD by 11.5% in the 2nd quarter. Osaic Holdings Inc. now owns 6,892 shares of the basic materials company’s stock valued at $92,000 after purchasing an additional 713 shares during the last quarter. 14.70% of the stock is owned by institutional investors and hedge funds.

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.