DRDGOLD (NYSE:DRD) Insider Ryno Bornman Sells 5,490 Shares of Stock

DRDGOLD Limited (NYSE:DRD) insider Ryno Bornman sold 5,490 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 value of $15,097.50. Following the sale, the insider owned 6,708 shares of the company’s stock, valued at $18,447. This represents a 45.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

DRDGOLD Trading Up 4.9%

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

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

DRDGOLD Dividend Announcement

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

DRDGOLD News Summary

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of DRDGOLD

Hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC acquired a new position in shares of DRDGOLD during the first quarter worth $1,759,000. JPMorgan Chase & Co. increased its stake in DRDGOLD by 7,065.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 30,093 shares of the basic materials company’s stock worth $401,000 after buying an additional 29,673 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in DRDGOLD by 75.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 291,249 shares of the basic materials company’s stock worth $3,882,000 after buying an additional 124,831 shares during the period. Jane Street Group LLC lifted its holdings in DRDGOLD by 174.4% in the 2nd quarter. Jane Street Group LLC now owns 124,255 shares of the basic materials company’s stock worth $1,656,000 after buying an additional 78,978 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in DRDGOLD by 138.0% in the 2nd quarter. Bank of America Corp DE now owns 42,846 shares of the basic materials company’s stock worth $571,000 after buying an additional 24,845 shares in the last quarter. Hedge funds and other 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.