DRDGOLD (NYSE:DRD) Insider Sells $31,861.50 in Stock

DRDGOLD Limited (NYSE:DRD) insider Kgabo Moloto sold 11,586 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $2.75, for a total transaction of $31,861.50. Following the completion of the transaction, the insider directly owned 11,586 shares of the company’s stock, valued at approximately $31,861.50. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

DRDGOLD Stock Performance

DRD opened at $28.54 on Friday. DRDGOLD Limited has a 1-year low of $19.47 and a 1-year high of $39.37. The stock’s 50 day simple moving average is $23.69 and its 200 day simple moving average is $27.09.

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

DRDGOLD Dividend Announcement

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

Key Stories Impacting 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

Hedge Funds Weigh In On DRDGOLD

Several institutional investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership lifted its position in DRDGOLD by 239.6% during the third 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 period. Amundi purchased a new stake in DRDGOLD in the 3rd quarter valued at about $17,467,000. AQR Capital Management LLC increased its stake in shares of DRDGOLD by 265.4% during the 4th quarter. AQR Capital Management LLC now owns 314,679 shares of the basic materials company’s stock valued at $9,758,000 after acquiring an additional 228,561 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of DRDGOLD by 91.9% during the 3rd 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, Lazard Asset Management LLC acquired a new stake in shares of DRDGOLD in the fourth quarter worth approximately $5,351,000. 14.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.