Lihan Laas Sells 9,029 Shares of DRDGOLD (NYSE:DRD) Stock

DRDGOLD Limited (NYSE:DRD) insider Lihan Laas sold 9,029 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $2.75, for a total transaction of $24,829.75. Following the completion of the sale, the insider owned 9,029 shares in the company, valued at $24,829.75. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

DRDGOLD Stock Down 3.6%

Shares of NYSE DRD opened at $28.54 on Friday. DRDGOLD Limited has a fifty-two week low of $19.47 and a fifty-two week high of $39.37. The firm’s 50-day simple moving average is $23.69 and its 200 day simple moving average is $27.09.

DRDGOLD (NYSE:DRD) last issued its quarterly earnings data on Wednesday, August 19th. The basic materials company reported $0.83 EPS for the quarter. The company had revenue of $188.03 million for the quarter. Sell-side analysts forecast that DRDGOLD Limited will post 3.12 earnings per share for the current fiscal year.

DRDGOLD Announces Dividend

The company also recently disclosed a dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 11th will be issued a dividend of $0.7379 per share. This represents a yield of 530.0%. The ex-dividend date of this dividend is Friday, September 11th.

Analyst Ratings Changes

Several analysts have recently commented on DRD shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of DRDGOLD in a report on Monday, August 3rd. Zacks Research cut shares of DRDGOLD from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 4th. Wall Street Zen downgraded shares of DRDGOLD from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. Finally, HC Wainwright increased their price objective on shares of DRDGOLD from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, DRDGOLD presently has a consensus rating of “Hold” and a consensus target price of $35.00.

Trending Headlines about DRDGOLD

Here are the key news stories impacting DRDGOLD this week:

• Positive Sentiment: Strong year and gold-market exposure: Mining Weekly characterized the past year as “very good” for DRDGOLD, supporting the view that favorable gold prices and operating performance remain important catalysts for the gold-tailings retreatment company. It’s been a very good year for DRDGOLD
• Positive Sentiment: Dividend and analyst support: DRDGOLD declared a $0.7379-per-share dividend payable September 21 to shareholders of record September 11. HC Wainwright also raised its price target to $35 and maintained a Buy rating, while the reported analyst consensus is Hold with a $35 target.
• Positive Sentiment: Institutional accumulation: Several funds increased their holdings during the second quarter, including JPMorgan, Arrowstreet Capital, Jane Street and Bank of America. Institutional investors collectively own about 14.7% of the company, providing some evidence of continued professional-investor interest.
• Neutral Sentiment: Insider sales followed award vesting: CEO Daniel Pretorius, CFO Henriette Hooijer, COO Jacobus Schoeman and other insiders sold shares on September 1 at an average price of $2.75. The transactions followed deferred-award vesting, so they may represent routine tax or liquidity-related sales rather than a negative change in management’s view of the business. The CEO retained nearly 1 million shares after his sale. DRDGOLD stock gains as insider share sales follow deferred award vesting
• Negative Sentiment: Broad insider selling weighs on sentiment: Nine executives and insiders sold approximately 127,494 shares worth $350,609 in total. Several individuals reduced their positions by roughly 45% to 85%, while Zacks Research downgraded the stock to Strong Sell. The breadth of selling could create near-term concern despite the company’s favorable operating trends. DRDGOLD insider selling report

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DRD. Banque Cantonale Vaudoise purchased a new stake in shares of DRDGOLD during the 4th quarter valued at $42,000. Farther Finance Advisors LLC raised its stake in shares of DRDGOLD by 33.5% during the 4th quarter. Farther Finance Advisors LLC now owns 2,256 shares of the basic materials company’s stock worth $70,000 after purchasing an additional 566 shares during the period. Osaic Holdings Inc. boosted its holdings in shares of 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 buying an additional 713 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of DRDGOLD in the 3rd quarter worth about $102,000. Finally, Smartleaf Asset Management LLC bought a new position in DRDGOLD during the fourth quarter valued at about $140,000. Institutional investors own 14.70% of the company’s stock.

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.