DRDGOLD (NYSE:DRD) Trading 10.1% Higher – Time to Buy?

Shares of DRDGOLD Limited (NYSE:DRD) traded up 10.1% on Thursday . The company traded as high as $11.51 and last traded at $11.62. 145,790 shares traded hands during trading, a decline of 39% from the average session volume of 237,215 shares. The stock had previously closed at $10.55.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. 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 report on Wednesday. StockNews.com upgraded shares of DRDGOLD from a “hold” rating to a “buy” rating in a research report on Wednesday.

DRDGOLD Price Performance

The firm has a market cap of $954.95 million, a P/E ratio of 8.77 and a beta of 1.08. The stock’s 50-day simple moving average is $9.70 and its two-hundred day simple moving average is $9.78.

Institutional Trading of DRDGOLD

A number of large investors have recently made changes to their positions in DRD. Van ECK Associates Corp boosted its stake 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 period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of DRDGOLD by 12.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 435,243 shares of the basic materials company’s stock valued at $4,196,000 after purchasing an additional 48,442 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of DRDGOLD during the third quarter valued at $431,000. Virtu Financial LLC purchased a new stake in shares of DRDGOLD during the third quarter valued at $119,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of DRDGOLD by 11.7% during the third quarter. JPMorgan Chase & Co. now owns 93,206 shares of the basic materials company’s stock valued at $899,000 after purchasing an additional 9,765 shares during the period. 14.70% of the stock is owned by hedge funds and other institutional investors.

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.