DRDGOLD Limited (NYSE:DRD) Sees Large Decrease in Short Interest

DRDGOLD Limited (NYSE:DRD) saw a significant drop in short interest in December. As of December 15th, there was short interest totaling 624,355 shares, a drop of 29.7% from the November 30th total of 887,697 shares. Based on an average daily volume of 417,847 shares, the short-interest ratio is currently 1.5 days. Currently, 0.7% of the company’s stock are sold short. Currently, 0.7% of the company’s stock are sold short. Based on an average daily volume of 417,847 shares, the short-interest ratio is currently 1.5 days.

DRDGOLD Stock Up 2.2%

Shares of DRDGOLD stock traded up $0.67 on Tuesday, reaching $31.21. 359,231 shares of the company traded hands, compared to its average volume of 410,125. The company has a 50 day moving average of $28.51 and a 200 day moving average of $22.45. DRDGOLD has a 52 week low of $8.58 and a 52 week high of $34.80.

Institutional Trading of DRDGOLD

Large investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership raised its stake in shares of DRDGOLD by 239.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 989,089 shares of the basic materials company’s stock valued at $27,299,000 after buying an additional 697,840 shares during the period. Amundi purchased a new stake in DRDGOLD in the 3rd quarter worth about $17,467,000. Millennium Management LLC raised its stake in DRDGOLD by 91.9% in the 3rd quarter. Millennium Management LLC now owns 397,000 shares of the basic materials company’s stock valued at $10,957,000 after acquiring an additional 190,152 shares during the period. Rockefeller Capital Management L.P. bought a new stake in DRDGOLD in the 2nd quarter valued at about $2,505,000. Finally, Acadian Asset Management LLC purchased a new stake in DRDGOLD during the first quarter valued at about $2,055,000. 14.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DRD has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of DRDGOLD from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 20th. Zacks Research upgraded DRDGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, November 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DRDGOLD in a research report on Wednesday, October 8th. Finally, HC Wainwright lifted their price target on DRDGOLD to $36.25 and gave the stock a “buy” rating in a report on Friday, October 17th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.