DRDGOLD (NYSE:DRD) Trading Down 2.5% – What’s Next?

Shares of DRDGOLD Limited (NYSE:DRD) fell 2.5% during mid-day trading on Monday . The company traded as low as $13.90 and last traded at $13.86. 107,444 shares changed hands during trading, a decline of 71% from the average session volume of 365,513 shares. The stock had previously closed at $14.21.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on DRD shares. StockNews.com raised DRDGOLD from a “hold” rating to a “buy” rating in a report on Friday, March 14th. HC Wainwright dropped their price target on DRDGOLD from $17.25 to $16.25 and set a “buy” rating on the stock in a research note on Wednesday, February 19th.

DRDGOLD Stock Down 1.4 %

The firm has a market capitalization of $1.21 billion, a PE ratio of 11.12 and a beta of 1.09. The business’s 50-day moving average price is $11.35 and its 200-day moving average price is $10.36.

DRDGOLD Dividend Announcement

The company also recently disclosed an annual dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, March 14th will be issued a dividend of $0.1628 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a dividend yield of 1.8%. DRDGOLD’s dividend payout ratio is 19.05%.

Institutional Investors Weigh In On DRDGOLD

Institutional investors have recently made changes to their positions in the company. American Century Companies Inc. increased its stake in shares of DRDGOLD by 72.9% during 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. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new stake in shares of DRDGOLD in the fourth quarter worth $1,449,000. ABC Arbitrage SA bought a new stake in shares of DRDGOLD during the 4th quarter worth $1,140,000. Ashton Thomas Private Wealth LLC acquired a new position in DRDGOLD in the 4th quarter valued at $1,045,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised 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 acquiring an additional 66,857 shares during the period. 14.70% of the stock is currently owned by institutional investors and hedge funds.

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.