StockNews.com Upgrades DRDGOLD (NYSE:DRD) to Buy

DRDGOLD (NYSE:DRD) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Separately, HC Wainwright dropped their price objective 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 Stock Performance

DRDGOLD stock opened at $13.93 on Friday. The firm’s 50-day moving average is $10.82 and its 200-day moving average is $10.13. DRDGOLD has a 1 year low of $7.53 and a 1 year high of $14.24. The company has a market cap of $1.20 billion, a P/E ratio of 11.06 and a beta of 1.09.

Institutional Trading of DRDGOLD

Large investors have recently modified their holdings of the company. Aquatic Capital Management LLC acquired a new stake in shares of DRDGOLD in the 4th quarter worth about $25,000. GAMMA Investing LLC increased its stake in DRDGOLD by 53.0% during the 4th quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company’s stock valued at $28,000 after buying an additional 1,122 shares during the period. QRG Capital Management Inc. acquired a new position in DRDGOLD during the 4th quarter valued at about $98,000. Squarepoint Ops LLC acquired a new position in DRDGOLD during the 4th quarter valued at about $110,000. Finally, Virtu Financial LLC acquired a new position in DRDGOLD during the 3rd quarter valued at about $119,000. 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.