DRDGOLD (NYSE:DRD) Stock Rating Upgraded by StockNews.com

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

Separately, HC Wainwright cut their price target on shares of DRDGOLD from $17.25 to $16.25 and set a “buy” rating on the stock in a report on Wednesday.

DRDGOLD Trading Up 10.2 %

NYSE:DRD opened at $11.63 on Wednesday. The company’s 50 day moving average price is $9.66 and its 200-day moving average price is $9.76. DRDGOLD has a 52 week low of $6.48 and a 52 week high of $12.70.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in DRDGOLD by 53.0% during the fourth quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 1,122 shares during the period. Van ECK Associates Corp lifted its position in DRDGOLD by 24.2% during the third quarter. Van ECK Associates Corp now owns 6,621,470 shares of the basic materials company’s stock valued at $63,831,000 after purchasing an additional 1,291,541 shares during the period. JPMorgan Chase & Co. lifted its position in DRDGOLD by 11.7% during the third quarter. JPMorgan Chase & Co. now owns 93,206 shares of the basic materials company’s stock valued at $899,000 after purchasing an additional 9,765 shares during the period. Blue Trust Inc. lifted its position in DRDGOLD by 488.4% during the third quarter. Blue Trust Inc. now owns 36,144 shares of the basic materials company’s stock valued at $348,000 after purchasing an additional 30,001 shares during the period. Finally, ABC Arbitrage SA bought a new position in DRDGOLD during the fourth quarter valued at approximately $1,140,000. 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.