DRDGOLD (NYSE:DRD) Upgraded to Strong-Buy at Zacks Research

DRDGOLD (NYSE:DRD) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

DRD has been the subject of several other reports. HC Wainwright raised their target price on DRDGOLD to $46.50 and gave the stock a “buy” rating in a research report on Friday, January 30th. Wall Street Zen upgraded DRDGOLD from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of DRDGOLD in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat, DRDGOLD has an average rating of “Buy” and a consensus target price of $46.50.

DRDGOLD Stock Up 1.7%

Shares of NYSE:DRD opened at $27.16 on Wednesday. DRDGOLD has a 12-month low of $12.75 and a 12-month high of $39.37. The business has a fifty day simple moving average of $31.14 and a 200 day simple moving average of $30.93.

DRDGOLD (NYSE:DRD) last announced its earnings results on Wednesday, February 18th. The basic materials company reported $6.74 earnings per share (EPS) for the quarter. On average, analysts forecast that DRDGOLD will post 14.22 EPS for the current fiscal year.

Institutional Trading of DRDGOLD

Several large investors have recently made changes to their positions in the company. Banque Cantonale Vaudoise bought a new position in DRDGOLD in the 4th quarter valued at about $42,000. Farther Finance Advisors LLC lifted its position in DRDGOLD by 88.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,690 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 792 shares in the last quarter. BNP Paribas Financial Markets bought a new position in DRDGOLD in the 3rd quarter valued at about $102,000. Blue Trust Inc. lifted its position in 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 in the last quarter. Finally, Smartleaf Asset Management LLC bought a new position in DRDGOLD in the 4th quarter valued at about $140,000. 14.70% of the stock is currently owned by institutional investors and hedge funds.

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.