DRDGOLD Limited (NYSE:DRD) Sees Significant Drop in Short Interest

DRDGOLD Limited (NYSE:DRD) was the recipient of a large decline in short interest in December. As of December 31st, there was short interest totalling 1,670,000 shares, a decline of 7.7% from the December 15th total of 1,810,000 shares. Based on an average daily volume of 241,600 shares, the short-interest ratio is currently 6.9 days.

Institutional Investors Weigh In On DRDGOLD

A number of large investors have recently added to or reduced their stakes in DRD. GAMMA Investing LLC boosted its holdings in shares of 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 in the last quarter. EverSource Wealth Advisors LLC lifted its position in DRDGOLD by 68.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,529 shares of the basic materials company’s stock worth $39,000 after buying an additional 1,840 shares during the last quarter. Virtu Financial LLC purchased a new stake in DRDGOLD in the third quarter worth approximately $119,000. Blue Trust Inc. grew its position in DRDGOLD by 488.4% during the third quarter. Blue Trust Inc. now owns 36,144 shares of the basic materials company’s stock valued at $348,000 after acquiring an additional 30,001 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of DRDGOLD during the third quarter worth approximately $431,000. Hedge funds and other institutional investors own 14.70% of the company’s stock.

DRDGOLD Stock Performance

Shares of DRDGOLD stock traded up $0.04 on Monday, hitting $9.30. 149,034 shares of the company traded hands, compared to its average volume of 185,346. DRDGOLD has a 12-month low of $6.48 and a 12-month high of $12.70. The firm’s 50-day simple moving average is $9.27 and its 200 day simple moving average is $9.64.

Analyst Ratings Changes

A number of brokerages have weighed in on DRD. StockNews.com lowered DRDGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. HC Wainwright restated a “buy” rating and issued a $13.25 price objective on shares of DRDGOLD in a research report on Friday, October 18th.

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.