Zacks Research Downgrades DRDGOLD (NYSE:DRD) to Hold

DRDGOLD (NYSE:DRD) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other analysts also recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DRDGOLD in a report on Wednesday, January 21st. Wall Street Zen upgraded DRDGOLD from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Finally, HC Wainwright lifted their price target on DRDGOLD to $46.50 and gave the stock a “buy” rating in a research note on Friday, January 30th. 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

DRDGOLD Stock Up 4.9%

Shares of DRD opened at $30.82 on Tuesday. DRDGOLD has a 1-year low of $12.75 and a 1-year high of $39.37. The firm’s 50 day simple moving average is $33.12 and its 200 day simple moving average is $30.51.

DRDGOLD (NYSE:DRD) last released its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $6.74 EPS for the quarter. On average, sell-side analysts anticipate that DRDGOLD will post 1.06 EPS for the current year.

Institutional Trading of DRDGOLD

Several hedge funds have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise purchased a new stake in DRDGOLD during the fourth quarter valued at about $42,000. Farther Finance Advisors LLC increased its holdings in shares of 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 buying an additional 792 shares during the period. Osaic Holdings Inc. lifted 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 acquiring an additional 713 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in DRDGOLD during the 3rd quarter valued at about $102,000. Finally, Blue Trust Inc. grew its position in DRDGOLD by 21.8% during the 4th quarter. Blue Trust Inc. now owns 4,476 shares of the basic materials company’s stock worth $139,000 after acquiring an additional 800 shares during the last quarter. 14.70% of the stock is owned by 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.