DRDGOLD (NYSE:DRD) Shares Gap Up – Here’s Why

DRDGOLD Limited (NYSE:DRD)’s share price gapped up before the market opened on Monday . The stock had previously closed at $14.13, but opened at $14.52. DRDGOLD shares last traded at $14.47, with a volume of 78,178 shares.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on DRD shares. HC Wainwright lowered their price objective on DRDGOLD from $17.25 to $16.25 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. StockNews.com cut DRDGOLD from a “buy” rating to a “hold” rating in a report on Tuesday, May 13th.

DRDGOLD Stock Up 4.5%

The firm has a market capitalization of $1.31 billion, a P/E ratio of 12.04 and a beta of 0.40. The business’s 50-day simple moving average is $14.83 and its 200 day simple moving average is $11.79.

DRDGOLD Dividend Announcement

The firm also recently disclosed an annual dividend, which was paid on Thursday, March 27th. Investors of record on Friday, March 14th were given a $0.1628 dividend. The ex-dividend date was Friday, March 14th. This represents a yield of 1.8%. DRDGOLD’s dividend payout ratio (DPR) is presently 19.05%.

Institutional Investors Weigh In On DRDGOLD

A number of institutional investors and hedge funds have recently bought and sold shares of DRD. Banque Cantonale Vaudoise bought a new position in shares of DRDGOLD during the first quarter valued at approximately $39,000. Aquatic Capital Management LLC purchased a new stake in DRDGOLD during the 4th quarter valued at about $25,000. Brooklyn Investment Group boosted its holdings in shares of DRDGOLD by 769.7% in the 1st quarter. Brooklyn Investment Group now owns 4,105 shares of the basic materials company’s stock valued at $64,000 after acquiring an additional 3,633 shares during the last quarter. GAMMA Investing LLC boosted its position in DRDGOLD by 52.9% in the 1st quarter. GAMMA Investing LLC now owns 4,953 shares of the basic materials company’s stock worth $77,000 after purchasing an additional 1,713 shares in the last quarter. Finally, Synergy Asset Management LLC boosted its position in DRDGOLD by 18,615.5% during the first quarter. Synergy Asset Management LLC now owns 10,855 shares of the basic materials company’s stock worth $168,000 after purchasing an additional 10,797 shares in the last quarter. 14.70% of the stock is owned by institutional investors.

About DRDGOLD

DRDGOLD Limited, a gold mining company, engages in the surface gold tailings retreatment business in South Africa. It also involved in the exploration, extraction, processing, and smelting activities. The company recovers gold from surface tailings in the Witwatersrand basin in Gauteng province. DRDGOLD Limited was formerly known as Durban Roodepoort Deep Limited and changed its name to DRDGOLD Limited in 2004.