Dean Lindecke Sells 20,060 Shares of DRDGOLD (NYSE:DRD) Stock

DRDGOLD Limited (NYSE:DRD) insider Dean Lindecke sold 20,060 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $2.75, for a total value of $55,165.00. Following the completion of the transaction, the insider directly owned 20,060 shares of the company’s stock, valued at $55,165. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

DRDGOLD Stock Down 3.6%

Shares of NYSE DRD opened at $28.54 on Friday. The firm’s 50 day simple moving average is $23.69 and its 200-day simple moving average is $27.09. DRDGOLD Limited has a 12 month low of $19.47 and a 12 month high of $39.37.

DRDGOLD (NYSE:DRD) last posted its earnings results 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 during the quarter. Equities analysts predict 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 given a $0.7379 dividend. The ex-dividend date is Friday, September 11th. This represents a dividend yield of 530.0%.

More 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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC increased its stake in DRDGOLD by 58.3% during 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 lifted its position in shares of DRDGOLD by 9.1% in the first quarter. Amundi now owns 507,710 shares of the basic materials company’s stock valued at $14,911,000 after acquiring an additional 42,342 shares in the last quarter. ABC Arbitrage SA lifted its position in shares of DRDGOLD by 107.2% in the fourth 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. Sei Investments Co. boosted its stake in shares of DRDGOLD by 60.8% in the first quarter. Sei Investments Co. now owns 79,738 shares of the basic materials company’s stock worth $2,342,000 after acquiring an additional 30,137 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of DRDGOLD by 21.9% in the first quarter. EverSource Wealth Advisors LLC now owns 5,895 shares of the basic materials company’s stock worth $173,000 after acquiring an additional 1,059 shares during the last quarter. Institutional investors and hedge funds own 14.70% of the company’s stock.

Wall Street Analyst Weigh In

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

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.