DRDGOLD (NYSE:DRD) Raised to Buy at StockNews.com

DRDGOLD (NYSE:DRD) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

Separately, HC Wainwright dropped their target price on DRDGOLD from $15.50 to $13.25 and set a “buy” rating on the stock in a research report on Thursday, August 22nd.

DRDGOLD Stock Performance

DRD stock traded down $0.06 during midday trading on Wednesday, reaching $9.03. The stock had a trading volume of 502,523 shares, compared to its average volume of 307,970. The firm has a fifty day simple moving average of $9.13 and a two-hundred day simple moving average of $8.66. DRDGOLD has a 52-week low of $6.48 and a 52-week high of $10.69.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DRD. Van ECK Associates Corp boosted its holdings in shares of DRDGOLD by 7.0% in the 1st quarter. Van ECK Associates Corp now owns 6,563,184 shares of the basic materials company’s stock valued at $53,818,000 after buying an additional 430,603 shares in the last quarter. American Century Companies Inc. grew its stake in shares of DRDGOLD by 36.8% in the 2nd quarter. American Century Companies Inc. now owns 679,600 shares of the basic materials company’s stock valued at $5,851,000 after purchasing an additional 182,900 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of DRDGOLD in the 4th quarter worth $507,000. Dimensional Fund Advisors LP boosted its holdings in DRDGOLD by 270.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 79,277 shares of the basic materials company’s stock valued at $683,000 after purchasing an additional 57,875 shares in the last quarter. Finally, Marshall Wace LLP raised its position in DRDGOLD by 34.3% in the second quarter. Marshall Wace LLP now owns 208,006 shares of the basic materials company’s stock worth $1,791,000 after acquiring an additional 53,081 shares in the last quarter. Hedge funds and other institutional investors own 14.70% of the company’s stock.

DRDGOLD Company Profile

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.