DRDGOLD (NYSE:DRD) Shares Gap Down – Should You Sell?

DRDGOLD Limited (NYSE:DRD) shares gapped down before the market opened on Monday . The stock had previously closed at $33.33, but opened at $31.59. DRDGOLD shares last traded at $30.5750, with a volume of 165,338 shares traded.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on DRD shares. Wall Street Zen upgraded shares of DRDGOLD from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 20th. HC Wainwright increased their target price on shares of DRDGOLD to $36.25 and gave the stock a “buy” rating in a report on Friday, October 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DRDGOLD in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded DRDGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, DRDGOLD presently has a consensus rating of “Moderate Buy” and an average price target of $36.25.

DRDGOLD Price Performance

The stock has a 50-day moving average of $28.38 and a 200-day moving average of $22.22.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership increased its stake in DRDGOLD by 239.6% in 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 buying an additional 697,840 shares during the last quarter. American Century Companies Inc. lifted its stake in DRDGOLD by 0.4% in the second quarter. American Century Companies Inc. now owns 945,945 shares of the basic materials company’s stock valued at $12,609,000 after acquiring an additional 4,030 shares during the last quarter. Amundi bought a new position in shares of DRDGOLD in the 3rd quarter valued at about $17,467,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of DRDGOLD by 1.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 570,807 shares of the basic materials company’s stock valued at $15,754,000 after purchasing an additional 6,740 shares during the period. Finally, Millennium Management LLC lifted its stake in DRDGOLD by 91.9% in the 3rd 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. Institutional investors own 14.70% of the company’s stock.

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.