Insider Selling: DRDGOLD (NYSE:DRD) Insider Sells $46,271.50 in Stock

DRDGOLD Limited (NYSE:DRD) insider Henry Gouws sold 16,826 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $2.75, for a total value of $46,271.50. Following the sale, the insider owned 3,050 shares in the company, valued at approximately $8,387.50. This trade represents a 84.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

DRDGOLD Trading Down 3.6%

Shares of DRD opened at $28.54 on Friday. DRDGOLD Limited has a 1 year low of $19.47 and a 1 year high of $39.37. The stock has a 50-day simple moving average of $23.69 and a 200-day simple moving average of $27.09.

DRDGOLD (NYSE:DRD) last issued its earnings results on Wednesday, August 19th. The basic materials company reported $0.83 earnings per share for the quarter. The firm had revenue of $188.03 million during the quarter. As a group, equities analysts predict that DRDGOLD Limited will post 3.12 earnings per share for the current year.

DRDGOLD Announces Dividend

The company also recently disclosed a dividend, which will be paid on Monday, September 21st. Stockholders of record on Friday, September 11th will be given 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.

Wall Street Analysts Forecast Growth

DRD has been the topic of a number of analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of DRDGOLD in a research note on Monday, August 3rd. Zacks Research cut DRDGOLD from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 4th. HC Wainwright increased their price objective on DRDGOLD from $33.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Finally, Wall Street Zen lowered DRDGOLD from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $35.00.

DRDGOLD News Summary

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 Investors Weigh In On DRDGOLD

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Banque Cantonale Vaudoise acquired a new position in DRDGOLD in the fourth quarter valued at $42,000. Farther Finance Advisors LLC lifted its holdings in shares of DRDGOLD by 33.5% in the 4th quarter. Farther Finance Advisors LLC now owns 2,256 shares of the basic materials company’s stock valued at $70,000 after purchasing an additional 566 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in shares of DRDGOLD by 11.5% in the 2nd quarter. Osaic Holdings Inc. now owns 6,892 shares of the basic materials company’s stock valued at $92,000 after purchasing an additional 713 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of DRDGOLD in the 3rd quarter valued at about $102,000. Finally, Smartleaf Asset Management LLC acquired a new stake in shares of DRDGOLD in the 4th quarter valued at about $140,000. 14.70% of the stock is 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.