DRDGOLD (NYSE:DRD) Insider Kevin Kruger Sells 7,561 Shares of Stock

DRDGOLD Limited (NYSE:DRD) insider Kevin Kruger sold 7,561 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $2.75, for a total value of $20,792.75. Following the completion of the sale, the insider owned 9,240 shares of the company’s stock, valued at $25,410. This trade represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

DRDGOLD Trading Up 4.9%

Shares of NYSE:DRD opened at $29.69 on Friday. DRDGOLD Limited has a 1 year low of $19.47 and a 1 year high of $39.37. The business’s 50 day moving average price is $23.54 and its 200-day moving average price is $27.08.

DRDGOLD (NYSE:DRD) last issued its quarterly earnings results on Wednesday, August 19th. The basic materials company reported $0.83 EPS for the quarter. The company had revenue of $188.03 million during the quarter. Research analysts predict that DRDGOLD Limited will post 3.12 EPS for the current year.

DRDGOLD Announces Dividend

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

Trending Headlines about DRDGOLD

Here are the key news stories impacting DRDGOLD this week:

• Positive Sentiment: A Mining Weekly article describes the past year as “very good” for DRDGOLD, reinforcing the view that strong gold-market conditions and the company’s operating performance have supported investor interest. It’s been a very good year for DRDGOLD
• Negative Sentiment: Multiple executives and insiders collectively sold 139,080 shares for approximately $382,471 at an average price of $2.75 on September 1. The sales included CEO Daniel Pretorius, CFO Henriette Hooijer, COO Jacobus Schoeman and several other insiders. While these transactions may reflect scheduled or personal portfolio decisions rather than a change in company fundamentals, their breadth—and several large reductions in individual holdings—could pressure sentiment and limit the stock’s upside in the near term. SEC insider transaction filings

Analyst Ratings Changes

DRD has been the subject of a number of recent research reports. Zacks Research downgraded shares of DRDGOLD from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 4th. Wall Street Zen cut DRDGOLD from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. HC Wainwright upped their price target on DRDGOLD from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of DRDGOLD in a report on Monday, August 3rd. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, DRDGOLD has a consensus rating of “Hold” and an average target price of $35.00.

Institutional Investors Weigh In On DRDGOLD

Hedge funds have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership increased its holdings in shares of DRDGOLD by 239.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 989,089 shares of the basic materials company’s stock worth $27,299,000 after buying an additional 697,840 shares during the last quarter. Amundi acquired a new position in DRDGOLD in the third quarter valued at approximately $17,467,000. Connor Clark & Lunn Investment Management Ltd. grew its position in DRDGOLD by 1.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 570,807 shares of the basic materials company’s stock worth $15,754,000 after acquiring an additional 6,740 shares during the period. Millennium Management LLC grew its position in DRDGOLD by 91.9% in the third quarter. Millennium Management LLC now owns 397,000 shares of the basic materials company’s stock worth $10,957,000 after acquiring an additional 190,152 shares during the period. Finally, Marshall Wace LLP increased its stake in DRDGOLD by 30.2% during the fourth quarter. Marshall Wace LLP now owns 391,702 shares of the basic materials company’s stock worth $12,147,000 after acquiring an additional 90,863 shares during the last quarter. Hedge funds and other institutional investors own 14.70% of the company’s stock.

DRDGOLD Company Profile

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.