Insider Selling: DRDGOLD (NYSE:DRD) CEO Sells $97,726.75 in Stock

DRDGOLD Limited (NYSE:DRD) CEO Daniel Pretorius sold 35,537 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $2.75, for a total value of $97,726.75. Following the transaction, the chief executive officer directly owned 999,816 shares of the company’s stock, valued at $2,749,494. This represents a 3.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

DRDGOLD Price Performance

DRDGOLD stock traded up $1.39 during midday trading on Thursday, hitting $29.69. The company’s stock had a trading volume of 302,032 shares, compared to its average volume of 330,681. The stock’s 50-day moving average price is $23.38 and its 200-day moving average price is $27.12. DRDGOLD Limited has a 12 month low of $19.47 and a 12 month high of $39.37.

DRDGOLD (NYSE:DRD) last released its earnings results on Wednesday, August 19th. The basic materials company reported $0.83 EPS for the quarter. The business had revenue of $188.03 million for the quarter. As a group, sell-side analysts anticipate that DRDGOLD Limited will post 3.12 EPS for the current fiscal year.

DRDGOLD Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 11th will be paid a dividend of $0.7379 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a yield of 530.0%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its position in DRDGOLD by 58.3% in the 1st quarter. Renaissance Technologies LLC now owns 349,645 shares of the basic materials company’s stock worth $10,269,000 after buying an additional 128,832 shares in the last quarter. Amundi boosted its stake in shares of DRDGOLD by 9.1% during the 1st quarter. Amundi now owns 507,710 shares of the basic materials company’s stock valued at $14,911,000 after buying an additional 42,342 shares during the period. Sei Investments Co. grew its holdings in shares of DRDGOLD by 60.8% during the 1st quarter. Sei Investments Co. now owns 79,738 shares of the basic materials company’s stock valued at $2,342,000 after acquiring an additional 30,137 shares in the last quarter. ABC Arbitrage SA grew its holdings in shares of DRDGOLD by 107.2% during the 4th quarter. ABC Arbitrage SA now owns 127,033 shares of the basic materials company’s stock valued at $3,939,000 after acquiring an additional 65,729 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in shares of DRDGOLD in the third quarter worth $102,000. 14.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DRD shares. Weiss Ratings reissued a “buy (b-)” rating on shares of DRDGOLD in a research note on Monday, August 3rd. Zacks Research cut DRDGOLD from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 4th. Wall Street Zen downgraded DRDGOLD from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. Finally, HC Wainwright upped their price target on DRDGOLD from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $35.00.

About DRDGOLD

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.