Connor Clark & Lunn Investment Management Ltd. Grows Stock Position in DRDGOLD Limited (NYSE:DRD)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in DRDGOLD Limited (NYSE:DRD) by 15.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 502,100 shares of the basic materials company’s stock after buying an additional 66,857 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.58% of DRDGOLD worth $4,333,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in DRDGOLD by 53.0% in the fourth quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company’s stock valued at $28,000 after buying an additional 1,122 shares during the last quarter. JPMorgan Chase & Co. raised its stake in DRDGOLD by 11.7% in the third quarter. JPMorgan Chase & Co. now owns 93,206 shares of the basic materials company’s stock valued at $899,000 after buying an additional 9,765 shares during the last quarter. QRG Capital Management Inc. acquired a new position in shares of DRDGOLD in the fourth quarter valued at about $98,000. Virtu Financial LLC acquired a new position in shares of DRDGOLD in the third quarter valued at about $119,000. Finally, Blue Trust Inc. increased its holdings in shares of DRDGOLD by 41.3% in the fourth quarter. Blue Trust Inc. now owns 51,056 shares of the basic materials company’s stock valued at $441,000 after purchasing an additional 14,912 shares during the period. 14.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on DRD shares. StockNews.com raised DRDGOLD from a “hold” rating to a “buy” rating in a report on Friday. HC Wainwright cut their price objective on DRDGOLD from $17.25 to $16.25 and set a “buy” rating on the stock in a report on Wednesday, February 19th.

DRDGOLD Stock Down 1.5 %

DRDGOLD stock opened at $13.93 on Monday. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 11.06 and a beta of 1.09. DRDGOLD Limited has a 52 week low of $7.53 and a 52 week high of $14.24. The business’s 50-day moving average price is $10.82 and its 200 day moving average price is $10.14.

DRDGOLD Announces Dividend

The business also recently announced an annual dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, March 14th will be issued a dividend of $0.1628 per share. This represents a yield of 1.8%. The ex-dividend date of this dividend is Friday, March 14th. DRDGOLD’s dividend payout ratio (DPR) is 19.05%.

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.