DRDGOLD (NYSE:DRD) Trading 4.6% Higher

DRDGOLD Limited (NYSE:DRD)’s stock price was up 4.6% during trading on Thursday . The stock traded as high as $8.28 and last traded at $8.18. Approximately 217,126 shares traded hands during trading, a decline of 36% from the average daily volume of 339,955 shares. The stock had previously closed at $7.82.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of DRDGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th.

DRDGOLD Stock Performance

The firm’s 50 day moving average is $7.90 and its 200 day moving average is $8.14.

DRDGOLD Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, March 8th were paid a $0.1058 dividend. The ex-dividend date was Thursday, March 7th. This represents a dividend yield of 5%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp lifted its stake in shares of DRDGOLD by 1.2% in the fourth quarter. Van ECK Associates Corp now owns 6,132,581 shares of the basic materials company’s stock worth $48,754,000 after buying an additional 72,498 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of DRDGOLD by 6.8% in the third quarter. Acadian Asset Management LLC now owns 1,467,309 shares of the basic materials company’s stock worth $12,161,000 after buying an additional 93,250 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of DRDGOLD by 6.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 328,149 shares of the basic materials company’s stock worth $2,724,000 after buying an additional 20,730 shares in the last quarter. National Bank of Canada FI lifted its stake in shares of DRDGOLD by 6.8% in the fourth quarter. National Bank of Canada FI now owns 176,194 shares of the basic materials company’s stock worth $1,388,000 after buying an additional 11,294 shares in the last quarter. Finally, AJOVista LLC bought a new position in shares of DRDGOLD in the fourth quarter worth approximately $792,000. Institutional investors 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.