StockNews.com Downgrades DRDGOLD (NYSE:DRD) to Hold

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

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

DRDGOLD Price Performance

DRD stock opened at $10.10 on Thursday. DRDGOLD has a 1 year low of $6.48 and a 1 year high of $10.69. The firm has a 50-day moving average of $9.14 and a 200 day moving average of $8.76.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Trexquant Investment LP grew its holdings in DRDGOLD by 88.4% in the fourth quarter. Trexquant Investment LP now owns 72,611 shares of the basic materials company’s stock worth $577,000 after purchasing an additional 34,061 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in shares of DRDGOLD in the 4th quarter worth approximately $507,000. Creekmur Asset Management LLC purchased a new stake in shares of DRDGOLD in the 4th quarter worth approximately $216,000. Hennion & Walsh Asset Management Inc. bought a new position in DRDGOLD during the 1st quarter valued at approximately $131,000. Finally, Van ECK Associates Corp raised its stake in DRDGOLD by 7.0% during the first 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 during the last quarter. 14.70% of the stock is currently 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.