DRDGOLD (NYSE:DRD) Shares Gap Down – Here’s Why

DRDGOLD Limited (NYSE:DRD) gapped down prior to trading on Tuesday . The stock had previously closed at $11.34, but opened at $10.94. DRDGOLD shares last traded at $10.95, with a volume of 33,619 shares changing hands.

Analysts Set New Price Targets

Separately, HC Wainwright increased their price target on shares of DRDGOLD from $13.25 to $17.25 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd.

DRDGOLD Stock Down 3.3 %

The stock has a fifty day moving average of $9.50 and a 200-day moving average of $9.72.

Institutional Trading of DRDGOLD

A number of hedge funds and other institutional investors have recently made changes to their positions in DRD. GAMMA Investing LLC boosted its position 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 valued at $28,000 after purchasing an additional 1,122 shares during the period. QRG Capital Management Inc. acquired a new stake in shares of DRDGOLD in the fourth quarter valued at approximately $98,000. Virtu Financial LLC purchased a new position in shares of DRDGOLD during the third quarter worth approximately $119,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of DRDGOLD in the 4th quarter valued at $176,000. Finally, Blue Trust Inc. increased its holdings in shares of DRDGOLD by 488.4% in the 3rd 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 period. Institutional investors and hedge funds 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.