DRDGOLD Limited (NYSE:DRD) Short Interest Up 25.7% in February

DRDGOLD Limited (NYSE:DRD) was the target of a large growth in short interest in February. As of February 13th, there was short interest totaling 659,568 shares, a growth of 25.7% from the January 29th total of 524,749 shares. Based on an average daily trading volume, of 350,284 shares, the days-to-cover ratio is presently 1.9 days. Approximately 0.8% of the shares of the company are short sold. Approximately 0.8% of the shares of the company are short sold. Based on an average daily trading volume, of 350,284 shares, the days-to-cover ratio is presently 1.9 days.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new position in DRDGOLD in the 4th quarter worth approximately $42,000. Farther Finance Advisors LLC boosted its position 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 during the period. Osaic Holdings Inc. grew its holdings in shares of DRDGOLD by 11.5% during the second quarter. Osaic Holdings Inc. now owns 6,892 shares of the basic materials company’s stock valued at $92,000 after buying an additional 713 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in DRDGOLD during the third quarter valued at $102,000. Finally, Blue Trust Inc. lifted its stake in DRDGOLD by 21.8% in the 4th quarter. Blue Trust Inc. now owns 4,476 shares of the basic materials company’s stock worth $139,000 after acquiring an additional 800 shares in the last quarter. 14.70% of the stock is owned by hedge funds and other institutional investors.

DRDGOLD Stock Performance

Shares of DRD traded down $0.22 during trading hours on Wednesday, hitting $33.98. 320,607 shares of the company were exchanged, compared to its average volume of 314,461. The firm has a fifty day simple moving average of $34.52 and a 200-day simple moving average of $29.02. DRDGOLD has a one year low of $11.93 and a one year high of $39.37.

DRDGOLD Dividend Announcement

The business also recently declared a dividend, which will be paid on Monday, March 23rd. Investors of record on Friday, March 13th will be paid a $0.3122 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a yield of 174.0%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Zacks Research upgraded DRDGOLD from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Wall Street Zen raised shares of DRDGOLD from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of DRDGOLD in a research report on Wednesday, January 21st. Finally, HC Wainwright boosted their price target on shares of DRDGOLD to $46.50 and gave the stock a “buy” rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $46.50.

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.