DRDGOLD (NYSE:DRD) Insider Lihan Laas Sells 9,029 Shares of Stock

DRDGOLD Limited (NYSE:DRD) insider Lihan Laas sold 9,029 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $2.75, for a total transaction of $24,829.75. Following the transaction, the insider owned 9,029 shares of the company’s stock, valued at approximately $24,829.75. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

DRDGOLD Stock Performance

DRDGOLD stock opened at $29.69 on Friday. The stock’s fifty day moving average is $23.54 and its two-hundred day moving average is $27.08. DRDGOLD Limited has a 1-year low of $19.47 and a 1-year high of $39.37.

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

DRDGOLD Announces Dividend

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

Key DRDGOLD News

Here are the key news stories impacting DRDGOLD this week:

• Positive Sentiment: A Mining Weekly article describes the past year as “very good” for DRDGOLD, reinforcing the view that strong gold-market conditions and the company’s operating performance have supported investor interest. It’s been a very good year for DRDGOLD
• Negative Sentiment: Multiple executives and insiders collectively sold 139,080 shares for approximately $382,471 at an average price of $2.75 on September 1. The sales included CEO Daniel Pretorius, CFO Henriette Hooijer, COO Jacobus Schoeman and several other insiders. While these transactions may reflect scheduled or personal portfolio decisions rather than a change in company fundamentals, their breadth—and several large reductions in individual holdings—could pressure sentiment and limit the stock’s upside in the near term. SEC insider transaction filings

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On DRDGOLD

Hedge funds have recently modified their holdings of the business. Oakmont Investment Advisors Inc. acquired a new position in shares of DRDGOLD in the 2nd quarter valued at $202,000. TD Waterhouse Canada Inc. boosted its stake in DRDGOLD by 14.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 28,563 shares of the basic materials company’s stock worth $603,000 after purchasing an additional 3,657 shares during the period. Bank of America Corp DE boosted its stake in DRDGOLD by 111.3% during the 1st quarter. Bank of America Corp DE now owns 34,630 shares of the basic materials company’s stock worth $1,017,000 after purchasing an additional 18,241 shares during the period. Amundi grew its position in DRDGOLD by 9.1% during the 1st quarter. Amundi now owns 507,710 shares of the basic materials company’s stock worth $14,911,000 after purchasing an additional 42,342 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in DRDGOLD by 21.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,895 shares of the basic materials company’s stock worth $173,000 after purchasing an additional 1,059 shares during the last quarter. 14.70% of the stock is currently owned by hedge funds and other institutional investors.

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.