DRDGOLD (NYSE:DRD) Shares Gap Up – Still a Buy?

Shares of DRDGOLD Limited (NYSE:DRD) gapped up before the market opened on Monday . The stock had previously closed at $9.23, but opened at $9.62. DRDGOLD shares last traded at $9.74, with a volume of 50,845 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. StockNews.com lowered shares of DRDGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. HC Wainwright reiterated a “buy” rating and issued a $13.25 target price on shares of DRDGOLD in a report on Friday, October 18th.

DRDGOLD Stock Performance

The firm has a 50-day moving average of $10.44 and a two-hundred day moving average of $9.44.

DRDGOLD Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, September 13th were issued a dividend of $0.1126 per share. The ex-dividend date was Friday, September 13th. This is a positive change from DRDGOLD’s previous semi-annual dividend of $0.11. This represents a dividend yield of 1.9%.

Institutional Investors Weigh In On DRDGOLD

Several 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 3rd quarter valued at $431,000. Connor Clark & Lunn Investment Management Ltd. grew its position in DRDGOLD by 12.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 435,243 shares of the basic materials company’s stock worth $4,196,000 after purchasing an additional 48,442 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of DRDGOLD by 24.2% during the 3rd quarter. Van ECK Associates Corp now owns 6,621,470 shares of the basic materials company’s stock worth $63,831,000 after purchasing an additional 1,291,541 shares during the period. U S Global Investors Inc. acquired a new position in shares of DRDGOLD during the third quarter valued at about $2,388,000. Finally, Blue Trust Inc. lifted its stake in shares of DRDGOLD by 488.4% in the third quarter. Blue Trust Inc. now owns 36,144 shares of the basic materials company’s stock valued at $348,000 after buying an additional 30,001 shares during the period. Institutional investors and hedge funds own 14.70% of the company’s stock.

About DRDGOLD

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.