DRDGOLD (NYSE:DRD) Shares Gap Up to $9.03

Shares of DRDGOLD Limited (NYSE:DRD) gapped up before the market opened on Thursday . The stock had previously closed at $9.03, but opened at $9.56. DRDGOLD shares last traded at $9.57, with a volume of 128,805 shares.

Analyst Ratings Changes

A number of research firms have recently weighed in on DRD. StockNews.com upgraded DRDGOLD from a “hold” rating to a “buy” rating in a research report on Wednesday. HC Wainwright reduced their target price on DRDGOLD from $15.50 to $13.25 and set a “buy” rating on the stock in a report on Thursday, August 22nd.

DRDGOLD Stock Up 2.5 %

The stock has a market capitalization of $848.16 million, a P/E ratio of 11.41 and a beta of 1.12. The stock has a 50 day simple moving average of $9.13 and a two-hundred day simple moving average of $8.68.

DRDGOLD Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, September 13th will be paid a $0.1126 dividend. This represents a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 13th. This is an increase from DRDGOLD’s previous semi-annual dividend of $0.11. DRDGOLD’s payout ratio is 18.60%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd lifted its holdings in DRDGOLD by 141.7% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 35,280 shares of the basic materials company’s stock worth $280,000 after buying an additional 20,686 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in DRDGOLD by 11.3% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 17,778 shares of the basic materials company’s stock worth $153,000 after purchasing an additional 1,802 shares in the last quarter. Blue Trust Inc. increased its position in shares of DRDGOLD by 4,107.5% during the second quarter. Blue Trust Inc. now owns 6,143 shares of the basic materials company’s stock valued at $50,000 after acquiring an additional 5,997 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of DRDGOLD during the 4th quarter worth $507,000. Finally, Thompson Siegel & Walmsley LLC bought a new stake in DRDGOLD in the second quarter worth about $86,000. Institutional investors and hedge funds own 14.70% of the company’s stock.

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.