DRDGOLD (NYSE:DRD) Shares Gap Up – What’s Next?

DRDGOLD Limited (NYSE:DRD)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $11.47, but opened at $11.79. DRDGOLD shares last traded at $11.88, with a volume of 190,080 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DRD. HC Wainwright decreased their price target on shares of DRDGOLD from $17.25 to $16.25 and set a “buy” rating for the company in a research report on Wednesday, February 19th. StockNews.com raised DRDGOLD from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th.

DRDGOLD Price Performance

The business has a fifty day moving average of $9.99 and a 200 day moving average of $9.87. The stock has a market cap of $1.07 billion, a PE ratio of 9.81 and a beta of 1.08.

DRDGOLD Dividend Announcement

The firm also recently declared an annual dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, March 14th will be issued a $0.1628 dividend. This represents a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, March 14th. DRDGOLD’s dividend payout ratio (DPR) is presently 19.05%.

Institutional Investors Weigh In On DRDGOLD

Several institutional investors and hedge funds have recently bought and sold shares of DRD. Van ECK Associates Corp grew its holdings in shares of DRDGOLD by 24.2% during 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 purchasing an additional 1,291,541 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in DRDGOLD by 12.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 435,243 shares of the basic materials company’s stock worth $4,196,000 after buying an additional 48,442 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of DRDGOLD during the third quarter valued at $431,000. Virtu Financial LLC bought a new position in shares of DRDGOLD during the third quarter worth about $119,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of DRDGOLD by 11.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 93,206 shares of the basic materials company’s stock worth $899,000 after acquiring an additional 9,765 shares during the period. Institutional investors and hedge funds own 14.70% of the company’s stock.

About DRDGOLD

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.