DRDGOLD (NYSE:DRD) Sees Large Volume Increase – What’s Next?

Shares of DRDGOLD Limited (NYSE:DRD) saw strong trading volume on Friday . 112,937 shares were traded during trading, a decline of 34% from the previous session’s volume of 172,094 shares.The stock last traded at $9.47 and had previously closed at $9.07.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DRD. StockNews.com downgraded DRDGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. HC Wainwright reissued a “buy” rating and issued a $13.25 price target on shares of DRDGOLD in a research report on Friday, October 18th.

DRDGOLD Price Performance

The company has a market capitalization of $797.15 million, a P/E ratio of 8.70 and a beta of 1.05. The stock’s fifty day simple moving average is $9.53 and its 200-day simple moving average is $9.60.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DRD. GAMMA Investing LLC lifted its stake in shares of DRDGOLD by 53.0% in the fourth quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company’s stock valued at $28,000 after buying an additional 1,122 shares during the period. EverSource Wealth Advisors LLC raised its holdings in DRDGOLD by 68.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,529 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 1,840 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in shares of DRDGOLD in the 2nd quarter worth approximately $86,000. Virtu Financial LLC acquired a new stake in shares of DRDGOLD during the 3rd quarter worth approximately $119,000. Finally, Blue Trust Inc. increased its position in shares of DRDGOLD by 488.4% during the third quarter. Blue Trust Inc. now owns 36,144 shares of the basic materials company’s stock valued at $348,000 after purchasing an additional 30,001 shares during the period. 14.70% of the stock is owned by 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.