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 the month of December. As of December 31st, there was short interest totaling 493,968 shares, a decline of 20.9% from the December 15th total of 624,355 shares. Based on an average daily volume of 424,648 shares, the short-interest ratio is presently 1.2 days. Currently, 0.6% of the shares of the company are sold short. Currently, 0.6% of the shares of the company are sold short. Based on an average daily volume of 424,648 shares, the short-interest ratio is presently 1.2 days.

DRDGOLD Price Performance

Shares of DRDGOLD stock traded up $0.37 during mid-day trading on Monday, reaching $36.23. 392,302 shares of the stock traded hands, compared to its average volume of 325,566. The business has a 50-day moving average of $30.57 and a 200 day moving average of $24.20. DRDGOLD has a fifty-two week low of $9.11 and a fifty-two week high of $36.56.

Institutional Investors Weigh In On DRDGOLD

Large investors have recently modified their holdings of the business. Farther Finance Advisors LLC lifted its stake in shares of DRDGOLD by 88.2% in the third quarter. Farther Finance Advisors LLC now owns 1,690 shares of the basic materials company’s stock worth $47,000 after buying an additional 792 shares in the last quarter. GAMMA Investing LLC raised its holdings in DRDGOLD by 29.7% in the 2nd quarter. GAMMA Investing LLC now owns 6,422 shares of the basic materials company’s stock valued at $86,000 after acquiring an additional 1,469 shares during the last quarter. Osaic Holdings Inc. lifted its stake in DRDGOLD by 11.5% in the 2nd quarter. Osaic Holdings Inc. now owns 6,892 shares of the basic materials company’s stock worth $92,000 after purchasing an additional 713 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of DRDGOLD during the 3rd quarter worth approximately $102,000. Finally, Blue Trust Inc. boosted its holdings in shares of DRDGOLD by 21.8% during the 4th quarter. Blue Trust Inc. now owns 4,476 shares of the basic materials company’s stock worth $139,000 after purchasing an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 14.70% of the company’s stock.

Analyst Upgrades and Downgrades

DRD has been the subject of a number of recent analyst reports. HC Wainwright lifted their price objective on shares of DRDGOLD to $36.25 and gave the company a “buy” rating in a report on Friday, October 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DRDGOLD in a report on Wednesday, October 8th. Wall Street Zen downgraded DRDGOLD from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 3rd. Finally, Zacks Research upgraded DRDGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, DRDGOLD presently has an average rating of “Moderate Buy” and an average price target of $36.25.

About DRDGOLD

DRDGOLD (NYSE: DRD) is a South African gold producer focused on the retreatment of surface tailings from historic mining operations on the Witwatersrand Basin. The company recovers fine gold particles from low‐grade tailings using an integrated, carbon‐in‐leach (CIL) processing circuit that is designed to maximize yield and minimize environmental impact. DRDGOLD’s operations are centered on sustainable resource utilization, transforming previously discarded material into saleable gold doré bars.

The company operates two primary tailings retreatment facilities on the West Rand and East Rand of Gauteng Province.