StockNews.com Lowers DRDGOLD (NYSE:DRD) to Hold

StockNews.com downgraded shares of DRDGOLD (NYSE:DRDFree Report) from a buy rating to a hold rating in a research report sent to investors on Monday.

DRDGOLD Stock Performance

NYSE:DRD opened at $8.75 on Monday. DRDGOLD has a 12-month low of $6.48 and a 12-month high of $12.75. The company’s 50-day moving average is $8.25 and its two-hundred day moving average is $8.06.

DRDGOLD Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, March 8th were paid a dividend of $0.1058 per share. This represents a dividend yield of 5%. The ex-dividend date of this dividend was Thursday, March 7th.

Hedge Funds Weigh In On DRDGOLD

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC grew its holdings in DRDGOLD by 36.4% in the 3rd quarter. SG Americas Securities LLC now owns 23,751 shares of the basic materials company’s stock valued at $197,000 after buying an additional 6,341 shares during the period. Jump Financial LLC acquired a new position in DRDGOLD during the third quarter worth approximately $247,000. Van ECK Associates Corp increased its position in DRDGOLD by 1.0% during the third quarter. Van ECK Associates Corp now owns 6,060,083 shares of the basic materials company’s stock worth $50,298,000 after purchasing an additional 61,500 shares during the last quarter. Systematic Alpha Investments LLC purchased a new position in DRDGOLD during the third quarter worth approximately $53,000. Finally, Acadian Asset Management LLC boosted its holdings in shares of DRDGOLD by 6.8% in the 3rd quarter. Acadian Asset Management LLC now owns 1,467,309 shares of the basic materials company’s stock valued at $12,161,000 after purchasing an additional 93,250 shares during the last quarter. 14.70% of the stock is currently owned by institutional investors and hedge funds.

About DRDGOLD

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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.

Further Reading

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