DRDGOLD (NYSE:DRD) Hits New 1-Year High – Should You Buy?

Shares of DRDGOLD Limited (NYSE:DRD) hit a new 52-week high during trading on Tuesday . The company traded as high as $14.29 and last traded at $14.24, with a volume of 55572 shares. The stock had previously closed at $13.49.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DRD. HC Wainwright lowered their price objective on 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 Friday.

DRDGOLD Stock Performance

The firm has a 50-day moving average price of $10.92 and a 200-day moving average price of $10.18. The stock has a market cap of $1.22 billion, a PE ratio of 11.22 and a beta of 1.09.

DRDGOLD Announces Dividend

The business also recently declared an annual dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, March 14th will be given 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 is presently 19.05%.

Hedge Funds Weigh In On DRDGOLD

Several large investors have recently modified their holdings of the stock. American Century Companies Inc. raised its position in shares of DRDGOLD by 72.9% in the 4th quarter. American Century Companies Inc. now owns 891,105 shares of the basic materials company’s stock worth $7,690,000 after purchasing an additional 375,705 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in DRDGOLD by 15.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 502,100 shares of the basic materials company’s stock worth $4,333,000 after buying an additional 66,857 shares in the last quarter. Invesco Ltd. increased its holdings in DRDGOLD by 8.1% in the 4th quarter. Invesco Ltd. now owns 266,360 shares of the basic materials company’s stock worth $2,299,000 after buying an additional 20,000 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. bought a new stake in DRDGOLD in the 4th quarter worth about $1,449,000. Finally, ABC Arbitrage SA bought a new stake in DRDGOLD in the 4th quarter worth about $1,140,000. Hedge funds and other institutional investors 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.