DRDGOLD (NYSE:DRD) Shares Gap Up – Still a Buy?

DRDGOLD Limited (NYSE:DRD)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $8.63, but opened at $8.93. DRDGOLD shares last traded at $9.08, with a volume of 60,435 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. StockNews.com downgraded DRDGOLD from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. HC Wainwright reaffirmed a “buy” rating and issued a $13.25 target price on shares of DRDGOLD in a research report on Friday, October 18th.

DRDGOLD Stock Up 4.5 %

The business’s 50 day moving average price is $9.59 and its 200-day moving average price is $9.60. The company has a market cap of $786.78 million, a PE ratio of 8.58 and a beta of 1.05.

Institutional Investors Weigh In On DRDGOLD

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DRD. U S Global Investors Inc. acquired a new stake in shares of DRDGOLD during the third quarter valued at about $2,388,000. Van ECK Associates Corp raised its holdings in DRDGOLD by 24.2% in the third quarter. Van ECK Associates Corp now owns 6,621,470 shares of the basic materials company’s stock valued at $63,831,000 after acquiring an additional 1,291,541 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in DRDGOLD by 270.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 79,277 shares of the basic materials company’s stock valued at $683,000 after acquiring an additional 57,875 shares during the last quarter. Blue Trust Inc. grew its holdings in DRDGOLD by 488.4% during the 3rd quarter. Blue Trust Inc. now owns 36,144 shares of the basic materials company’s stock worth $348,000 after acquiring an additional 30,001 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in DRDGOLD by 34.3% during the 2nd quarter. Marshall Wace LLP now owns 208,006 shares of the basic materials company’s stock worth $1,791,000 after acquiring an additional 53,081 shares in the last quarter. Hedge funds and other institutional investors own 14.70% of the company’s stock.

DRDGOLD Company Profile

DRDGOLD Limited, a gold mining company, engages in the surface gold tailings retreatment business in South Africa. It also involved in the exploration, extraction, processing, and smelting activities. The company recovers gold from surface tailings in the Witwatersrand basin in Gauteng province. DRDGOLD Limited was formerly known as Durban Roodepoort Deep Limited and changed its name to DRDGOLD Limited in 2004.