Short Interest in DRDGOLD Limited (NYSE:DRD) Drops By 20.9%

DRDGOLD Limited (NYSE:DRD) was the target of a large decrease in short interest in December. As of December 31st, there was short interest totaling 493,968 shares, a decrease of 20.9% from the December 15th total of 624,355 shares. Based on an average daily trading volume, of 424,648 shares, the short-interest ratio is presently 1.2 days. Approximately 0.6% of the shares of the stock are sold short. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 424,648 shares, the short-interest ratio is presently 1.2 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Savant Capital LLC bought a new position in shares of DRDGOLD in the 2nd quarter valued at about $182,000. GAMMA Investing LLC raised its position 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 purchasing an additional 1,469 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in DRDGOLD during the second quarter valued at approximately $2,505,000. Kiker Wealth Management LLC bought a new stake in shares of DRDGOLD in the 2nd quarter valued at approximately $142,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of DRDGOLD in the 2nd quarter worth approximately $291,000. 14.70% of the stock is currently owned by institutional investors.

DRDGOLD Trading Up 1.0%

Shares of DRDGOLD stock traded up $0.37 during trading on Friday, reaching $36.23. 392,302 shares of the stock traded hands, compared to its average volume of 325,566. DRDGOLD has a 52-week low of $9.11 and a 52-week high of $36.56. The business has a fifty day simple moving average of $30.57 and a two-hundred day simple moving average of $24.13.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wall Street Zen downgraded DRDGOLD from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 3rd. HC Wainwright lifted their target price on DRDGOLD to $36.25 and gave the company a “buy” rating in a research note on Friday, October 17th. Zacks Research upgraded DRDGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, November 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of DRDGOLD in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.25.

DRDGOLD Company Profile

DRDGOLD (NYSE: DRD) is a South African gold producer focused on the retreatment of surface tailings from historic mining operations on the Witwatersrand Basin. The company recovers fine gold particles from low‐grade tailings using an integrated, carbon‐in‐leach (CIL) processing circuit that is designed to maximize yield and minimize environmental impact. DRDGOLD’s operations are centered on sustainable resource utilization, transforming previously discarded material into saleable gold doré bars.

The company operates two primary tailings retreatment facilities on the West Rand and East Rand of Gauteng Province.