DRDGOLD (NYSE:DRD) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

DRDGOLD Limited (NYSE:DRD)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.19 and traded as high as $12.18. DRDGOLD shares last traded at $12.09, with a volume of 284,910 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DRD. HC Wainwright restated a “buy” rating and issued a $13.25 target price on shares of DRDGOLD in a research note on Friday, October 18th. StockNews.com lowered shares of DRDGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th.

DRDGOLD Stock Down 1.3 %

The firm’s 50-day simple moving average is $9.78 and its 200 day simple moving average is $9.19.

DRDGOLD Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, September 13th were given a $0.1126 dividend. This is a boost from DRDGOLD’s previous semi-annual dividend of $0.11. The ex-dividend date was Friday, September 13th. This represents a yield of 1.9%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of DRDGOLD by 11.3% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 17,778 shares of the basic materials company’s stock valued at $153,000 after acquiring an additional 1,802 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of DRDGOLD by 68.4% in the second quarter. EverSource Wealth Advisors LLC now owns 4,529 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 1,840 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of DRDGOLD by 4,107.5% in 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 in the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in DRDGOLD during the second quarter valued at approximately $86,000. Finally, Marshall Wace LLP lifted its stake in DRDGOLD by 34.3% during the second quarter. Marshall Wace LLP now owns 208,006 shares of the basic materials company’s stock valued at $1,791,000 after purchasing an additional 53,081 shares during the last quarter. 14.70% of the stock is currently owned by institutional investors.

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.