DRDGOLD (NYSE:DRD) Shares Cross Above 200 Day Moving Average – Here’s What Happened

DRDGOLD Limited (NYSE:DRD)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $18.44 and traded as high as $26.61. DRDGOLD shares last traded at $25.31, with a volume of 544,443 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DRD. Weiss Ratings reiterated a “buy (b)” rating on shares of DRDGOLD in a report on Wednesday, October 8th. Zacks Research cut DRDGOLD from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 20th. Wall Street Zen downgraded DRDGOLD from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 17th. Finally, HC Wainwright raised their price target on shares of DRDGOLD to $36.25 and gave the stock a “buy” rating in a report on Friday, October 17th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, DRDGOLD presently has an average rating of “Hold” and an average price target of $36.25.

DRDGOLD Price Performance

The business has a 50 day simple moving average of $25.47 and a 200 day simple moving average of $18.44.

DRDGOLD Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 12th were given a dividend of $0.2269 per share. The ex-dividend date of this dividend was Friday, September 12th. This is a boost from DRDGOLD’s previous annual dividend of $0.16. This represents a yield of 202.0%.

Institutional Trading of DRDGOLD

Several large investors have recently added to or reduced their stakes in DRD. Banque Cantonale Vaudoise acquired a new position in shares of DRDGOLD during the 1st quarter worth $39,000. Farther Finance Advisors LLC boosted its holdings in DRDGOLD by 88.2% in the third quarter. Farther Finance Advisors LLC now owns 1,690 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 792 shares in the last quarter. Brooklyn Investment Group increased its position in DRDGOLD by 769.7% during the first quarter. Brooklyn Investment Group now owns 4,105 shares of the basic materials company’s stock worth $64,000 after buying an additional 3,633 shares during the last quarter. GAMMA Investing LLC raised its holdings in DRDGOLD by 29.7% during the second quarter. GAMMA Investing LLC now owns 6,422 shares of the basic materials company’s stock valued at $86,000 after buying an additional 1,469 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its position in shares of DRDGOLD by 11.5% in the second quarter. Osaic Holdings Inc. now owns 6,892 shares of the basic materials company’s stock worth $92,000 after buying an additional 713 shares during the last quarter. 14.70% of the stock is owned by 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.