DRDGOLD (NYSE:DRD) Shares Down 9.9% – Here’s What Happened

Shares of DRDGOLD Limited (NYSE:DRD) dropped 9.9% during trading on Thursday . The company traded as low as $34.76 and last traded at $35.2910. Approximately 464,873 shares changed hands during mid-day trading, an increase of 33% from the average daily volume of 349,001 shares. The stock had previously closed at $39.18.

Analysts Set New Price Targets

A number of brokerages have recently commented on DRD. Weiss Ratings restated a “buy (b)” rating on shares of DRDGOLD in a report on Wednesday, January 21st. HC Wainwright boosted their price objective on shares of DRDGOLD to $36.25 and gave the stock a “buy” rating in a research note on Friday, October 17th. Zacks Research upgraded shares of DRDGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. Finally, Wall Street Zen lowered shares of DRDGOLD from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 3rd. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.25.

DRDGOLD Trading Down 10.2%

The stock’s 50-day moving average is $32.09 and its two-hundred day moving average is $25.46.

Hedge Funds Weigh In On DRDGOLD

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its stake in DRDGOLD by 88.2% during the third 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 in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of DRDGOLD during the 3rd quarter valued at about $102,000. Blue Trust Inc. lifted its holdings in shares of DRDGOLD by 21.8% in the 4th quarter. Blue Trust Inc. now owns 4,476 shares of the basic materials company’s stock valued at $139,000 after acquiring an additional 800 shares during the last quarter. Aventura Private Wealth LLC bought a new position in shares of DRDGOLD in the 4th quarter valued at about $151,000. Finally, EverSource Wealth Advisors LLC grew its position in DRDGOLD by 24.8% in the third quarter. EverSource Wealth Advisors LLC now owns 5,387 shares of the basic materials company’s stock worth $149,000 after acquiring an additional 1,070 shares in the last quarter. 14.70% of the stock is currently owned by hedge funds and other institutional investors.

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.