DRDGOLD (NYSE:DRD) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Shares of DRDGOLD Limited (NYSE:DRD) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.72 and traded as high as $11.49. DRDGOLD shares last traded at $11.38, with a volume of 243,015 shares trading hands.

Analysts Set New Price Targets

Separately, HC Wainwright raised their target price on shares of DRDGOLD from $13.25 to $17.25 and gave the company a “buy” rating in a research note on Wednesday, January 22nd.

DRDGOLD Trading Up 2.4 %

The stock’s fifty day moving average is $9.50 and its two-hundred day moving average is $9.72.

Institutional Investors Weigh In On DRDGOLD

A number of large investors have recently added to or reduced their stakes in DRD. Dimensional Fund Advisors LP grew its holdings in DRDGOLD by 270.4% during 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. Blue Trust Inc. grew its holdings in DRDGOLD by 488.4% during the 3rd quarter. Blue Trust Inc. now owns 36,144 shares of the basic materials company’s stock worth $348,000 after acquiring an additional 30,001 shares in the last quarter. U S Global Investors Inc. acquired a new position in DRDGOLD during the 3rd quarter worth $2,388,000. Van ECK Associates Corp grew its holdings in DRDGOLD by 24.2% during the 3rd quarter. Van ECK Associates Corp now owns 6,621,470 shares of the basic materials company’s stock worth $63,831,000 after acquiring an additional 1,291,541 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in DRDGOLD by 12.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 435,243 shares of the basic materials company’s stock worth $4,196,000 after acquiring an additional 48,442 shares in the last quarter. 14.70% of the stock is owned by institutional investors and hedge funds.

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.