DRDGOLD (NYSE:DRD) Sees Unusually-High Trading Volume – Here’s Why

DRDGOLD Limited (NYSE:DRD) shares saw an uptick in trading volume on Monday . 391,257 shares traded hands during trading, an increase of 20% from the previous session’s volume of 325,759 shares.The stock last traded at $15.98 and had previously closed at $16.14.

Analyst Ratings Changes

DRD has been the topic of a number of research reports. HC Wainwright cut their price objective on shares of DRDGOLD from $17.25 to $16.25 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. StockNews.com upgraded DRDGOLD from a “hold” rating to a “buy” rating in a research note on Friday, March 14th.

DRDGOLD Stock Down 0.1 %

The company’s 50-day moving average is $12.95 and its 200 day moving average is $11.01. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 12.79 and a beta of 0.88.

DRDGOLD Dividend Announcement

The firm also recently declared an annual dividend, which was paid on Thursday, March 27th. Investors of record on Friday, March 14th were paid a $0.1628 dividend. The ex-dividend date was Friday, March 14th. This represents a dividend yield of 1.8%. DRDGOLD’s dividend payout ratio is presently 19.05%.

Hedge Funds Weigh In On DRDGOLD

Hedge funds have recently bought and sold shares of the business. American Century Companies Inc. raised its stake in shares of DRDGOLD by 72.9% during the 4th quarter. American Century Companies Inc. now owns 891,105 shares of the basic materials company’s stock worth $7,690,000 after buying an additional 375,705 shares during the period. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new position in DRDGOLD during the fourth quarter worth $1,449,000. ABC Arbitrage SA purchased a new position in DRDGOLD during the fourth quarter valued at $1,140,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of DRDGOLD during the fourth quarter worth about $1,045,000. Finally, GAMMA Investing LLC raised its position in shares of DRDGOLD by 2,264.9% during the 1st quarter. GAMMA Investing LLC now owns 76,623 shares of the basic materials company’s stock worth $1,185,000 after purchasing an additional 73,383 shares during 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.