DRDGOLD (NYSE:DRD) Sees Strong Trading Volume – Time to Buy?

DRDGOLD Limited (NYSE:DRD) saw strong trading volume on Monday . 232,798 shares were traded during mid-day trading, a decline of 28% from the previous session’s volume of 322,743 shares.The stock last traded at $13.69 and had previously closed at $13.89.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. StockNews.com raised shares of DRDGOLD from a “hold” rating to a “buy” rating in a research report on Friday. HC Wainwright decreased their price objective on shares of DRDGOLD from $17.25 to $16.25 and set a “buy” rating for the company in a research report on Wednesday, February 19th.

DRDGOLD Price Performance

The firm’s 50-day moving average price is $10.82 and its 200 day moving average price is $10.14. The firm has a market cap of $1.17 billion, a P/E ratio of 10.73 and a beta of 1.09.

DRDGOLD Dividend Announcement

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 dividend of $0.1628 per share. The ex-dividend date is Friday, March 14th. This represents a dividend yield of 1.8%. DRDGOLD’s payout ratio is 19.05%.

Hedge Funds Weigh In On DRDGOLD

Several large investors have recently modified their holdings of DRD. Aquatic Capital Management LLC bought a new position in DRDGOLD in the fourth quarter worth about $25,000. GAMMA Investing LLC lifted its holdings in DRDGOLD by 53.0% in the fourth quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 1,122 shares during the last quarter. QRG Capital Management Inc. bought a new position in DRDGOLD in the fourth quarter worth about $98,000. Squarepoint Ops LLC bought a new position in DRDGOLD in the fourth quarter worth about $110,000. Finally, Virtu Financial LLC bought a new position in DRDGOLD in the third quarter worth about $119,000. 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.