DRDGOLD (NYSE:DRD) Shares Gap Down – Here’s Why

DRDGOLD Limited (NYSE:DRD)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $14.08, but opened at $13.38. DRDGOLD shares last traded at $13.62, with a volume of 208,132 shares traded.

Analyst Ratings Changes

A number of brokerages have issued reports on DRD. HC Wainwright decreased their target price on shares of DRDGOLD from $17.25 to $16.25 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. StockNews.com upgraded shares of DRDGOLD from a “hold” rating to a “buy” rating in a research report on Friday.

DRDGOLD Trading Up 2.1 %

The firm’s 50-day moving average price is $10.62 and its 200 day moving average price is $10.05. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 11.21 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 paid a $0.1628 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a dividend yield of 1.8%. DRDGOLD’s payout ratio is currently 19.05%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. PKO Investment Management Joint Stock Co acquired a new position in shares of DRDGOLD in the fourth quarter valued at approximately $439,000. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new position in shares of DRDGOLD in the fourth quarter valued at approximately $276,000. Public Employees Retirement System of Ohio increased its stake in shares of DRDGOLD by 26.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 56,592 shares of the basic materials company’s stock valued at $488,000 after buying an additional 11,921 shares during the period. GTS Securities LLC acquired a new position in shares of DRDGOLD in the fourth quarter valued at approximately $170,000. Finally, Squarepoint Ops LLC acquired a new position in shares of DRDGOLD in the fourth quarter valued at approximately $110,000. 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.