DRDGOLD Limited (NYSE:DRD) Short Interest Down 7.3% in January

DRDGOLD Limited (NYSE:DRD) was the target of a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 1,650,000 shares, a drop of 7.3% from the January 15th total of 1,780,000 shares. Based on an average daily trading volume, of 237,000 shares, the short-interest ratio is presently 7.0 days.

Institutional Investors Weigh In On DRDGOLD

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Aquatic Capital Management LLC bought a new stake in DRDGOLD in the fourth quarter valued at approximately $25,000. GAMMA Investing LLC lifted its position in shares of DRDGOLD by 53.0% in the 4th quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 1,122 shares during the period. QRG Capital Management Inc. bought a new stake in shares of DRDGOLD in the 4th quarter valued at $98,000. Virtu Financial LLC acquired a new stake in shares of DRDGOLD during the third quarter worth $119,000. Finally, Squarepoint Ops LLC bought a new position in DRDGOLD during the fourth quarter worth $110,000. Institutional investors and hedge funds own 14.70% of the company’s stock.

DRDGOLD Stock Up 1.2 %

NYSE:DRD traded up $0.12 during trading hours on Tuesday, hitting $10.44. 243,725 shares of the company were exchanged, compared to its average volume of 240,220. DRDGOLD has a one year low of $6.48 and a one year high of $12.70. The company has a fifty day simple moving average of $9.61 and a 200 day simple moving average of $9.74.

Wall Street Analyst Weigh In

Separately, HC Wainwright upped their price target on shares of DRDGOLD from $13.25 to $17.25 and gave the company a “buy” rating in a research report on Wednesday, January 22nd.

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.