DRDGOLD (NYSE:DRD) Rating Lowered to Strong Sell at Zacks Research

DRDGOLD (NYSE:DRD) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also commented on DRD. Wall Street Zen lowered shares of DRDGOLD from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of DRDGOLD in a report on Monday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $35.00 price objective on shares of DRDGOLD in a report on Thursday, July 16th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, DRDGOLD currently has a consensus rating of “Hold” and a consensus price target of $35.00.

DRDGOLD Stock Up 6.5%

DRD opened at $22.96 on Tuesday. The firm’s 50-day simple moving average is $22.29 and its 200-day simple moving average is $28.30. DRDGOLD has a twelve month low of $14.52 and a twelve month high of $39.37.

Institutional Trading of DRDGOLD

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new position in shares of DRDGOLD in the 4th quarter valued at about $42,000. Farther Finance Advisors LLC lifted its stake in shares of DRDGOLD by 33.5% in the 4th quarter. Farther Finance Advisors LLC now owns 2,256 shares of the basic materials company’s stock valued at $70,000 after purchasing an additional 566 shares during the period. Osaic Holdings Inc. grew its stake in shares of DRDGOLD by 11.5% during the second quarter. Osaic Holdings Inc. now owns 6,892 shares of the basic materials company’s stock worth $92,000 after purchasing an additional 713 shares during the period. BNP Paribas Financial Markets bought a new stake in DRDGOLD in the third quarter valued at about $102,000. Finally, Smartleaf Asset Management LLC bought a new position in DRDGOLD during the fourth quarter worth about $140,000. 14.70% of the stock is currently owned by institutional investors and hedge funds.

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.