Insider Selling: DRDGOLD (NYSE:DRD) CFO Sells $22,860.75 in Stock

DRDGOLD Limited (NYSE:DRD) CFO Henriette Hooijer sold 8,313 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $2.75, for a total value of $22,860.75. Following the completion of the transaction, the chief financial officer owned 172,099 shares in the company, valued at $473,272.25. The trade was a 4.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

DRDGOLD Stock Down 3.6%

DRD opened at $28.54 on Friday. DRDGOLD Limited has a twelve month low of $19.47 and a twelve month high of $39.37. The company has a 50-day simple moving average of $23.69 and a 200 day simple moving average of $27.09.

DRDGOLD (NYSE:DRD) last announced its quarterly earnings data on Wednesday, August 19th. The basic materials company reported $0.83 earnings per share (EPS) for the quarter. The firm had revenue of $188.03 million for the quarter. Sell-side analysts anticipate that DRDGOLD Limited will post 3.12 EPS for the current year.

DRDGOLD Dividend Announcement

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

Key DRDGOLD News

Here are the key news stories impacting DRDGOLD this week:

• Positive Sentiment: Strong year and gold-market exposure: Mining Weekly characterized the past year as “very good” for DRDGOLD, supporting the view that favorable gold prices and operating performance remain important catalysts for the gold-tailings retreatment company. It’s been a very good year for DRDGOLD
• Positive Sentiment: Dividend and analyst support: DRDGOLD declared a $0.7379-per-share dividend payable September 21 to shareholders of record September 11. HC Wainwright also raised its price target to $35 and maintained a Buy rating, while the reported analyst consensus is Hold with a $35 target.
• Positive Sentiment: Institutional accumulation: Several funds increased their holdings during the second quarter, including JPMorgan, Arrowstreet Capital, Jane Street and Bank of America. Institutional investors collectively own about 14.7% of the company, providing some evidence of continued professional-investor interest.
• Neutral Sentiment: Insider sales followed award vesting: CEO Daniel Pretorius, CFO Henriette Hooijer, COO Jacobus Schoeman and other insiders sold shares on September 1 at an average price of $2.75. The transactions followed deferred-award vesting, so they may represent routine tax or liquidity-related sales rather than a negative change in management’s view of the business. The CEO retained nearly 1 million shares after his sale. DRDGOLD stock gains as insider share sales follow deferred award vesting
• Negative Sentiment: Broad insider selling weighs on sentiment: Nine executives and insiders sold approximately 127,494 shares worth $350,609 in total. Several individuals reduced their positions by roughly 45% to 85%, while Zacks Research downgraded the stock to Strong Sell. The breadth of selling could create near-term concern despite the company’s favorable operating trends. DRDGOLD insider selling report

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership boosted its holdings in shares of DRDGOLD by 239.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 989,089 shares of the basic materials company’s stock valued at $27,299,000 after acquiring an additional 697,840 shares in the last quarter. Amundi acquired a new position in DRDGOLD in the 3rd quarter worth about $17,467,000. AQR Capital Management LLC increased its holdings in DRDGOLD by 265.4% in the 4th quarter. AQR Capital Management LLC now owns 314,679 shares of the basic materials company’s stock worth $9,758,000 after purchasing an additional 228,561 shares in the last quarter. Millennium Management LLC raised its position in DRDGOLD by 91.9% in the third quarter. Millennium Management LLC now owns 397,000 shares of the basic materials company’s stock valued at $10,957,000 after purchasing an additional 190,152 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in DRDGOLD in the fourth quarter valued at about $5,351,000. 14.70% of the stock is currently 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.