DRDGOLD (NYSE:DRD) Hits New 1-Year High – Here’s What Happened

DRDGOLD Limited (NYSE:DRD) hit a new 52-week high during trading on Thursday . The company traded as high as $15.75 and last traded at $15.67, with a volume of 641347 shares. The stock had previously closed at $15.37.

Analyst Ratings Changes

DRD has been the topic of several research reports. StockNews.com upgraded shares of DRDGOLD from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. HC Wainwright lowered their price target on shares of DRDGOLD from $17.25 to $16.25 and set a “buy” rating on the stock in a report on Wednesday, February 19th.

DRDGOLD Trading Down 13.4 %

The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 10.75 and a beta of 1.09. The company has a fifty day moving average price of $12.37 and a 200-day moving average price of $10.78.

DRDGOLD Dividend Announcement

The firm also recently announced an annual dividend, which was paid on Thursday, March 27th. Shareholders of record on Friday, March 14th were given a $0.1628 dividend. This represents a yield of 1.8%. The ex-dividend date was Friday, March 14th. DRDGOLD’s dividend payout ratio is 19.05%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DRD. Public Employees Retirement System of Ohio acquired a new position in DRDGOLD during the third quarter worth $431,000. Virtu Financial LLC acquired a new position in shares of DRDGOLD during the 3rd quarter valued at about $119,000. JPMorgan Chase & Co. raised its stake in shares of DRDGOLD by 11.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 93,206 shares of the basic materials company’s stock valued at $899,000 after acquiring an additional 9,765 shares in the last quarter. GAMMA Investing LLC lifted its holdings in DRDGOLD by 53.0% in the 4th quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 1,122 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new stake in DRDGOLD during the fourth quarter worth approximately $176,000. Institutional investors own 14.70% of the company’s stock.

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.