Van ECK Associates Corp Sells 1,233,255 Shares of DRDGOLD Limited (NYSE:DRD)

Van ECK Associates Corp decreased its holdings in DRDGOLD Limited (NYSE:DRD) by 18.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,329,929 shares of the basic materials company’s stock after selling 1,233,255 shares during the period. Van ECK Associates Corp owned 6.16% of DRDGOLD worth $45,891,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. AJOVista LLC purchased a new position in DRDGOLD during the fourth quarter valued at approximately $792,000. Campbell & CO Investment Adviser LLC purchased a new position in DRDGOLD during the fourth quarter valued at approximately $507,000. Trexquant Investment LP grew its stake in DRDGOLD by 88.4% during the fourth quarter. Trexquant Investment LP now owns 72,611 shares of the basic materials company’s stock valued at $577,000 after acquiring an additional 34,061 shares in the last quarter. Jump Financial LLC grew its stake in DRDGOLD by 102.1% during the fourth quarter. Jump Financial LLC now owns 60,247 shares of the basic materials company’s stock valued at $479,000 after acquiring an additional 30,438 shares in the last quarter. Finally, Creekmur Asset Management LLC purchased a new position in DRDGOLD in the 4th quarter worth approximately $216,000. Hedge funds and other institutional investors own 14.70% of the company’s stock.

DRDGOLD Price Performance

DRDGOLD stock traded down $0.14 during mid-day trading on Friday, reaching $8.27. 252,371 shares of the company traded hands, compared to its average volume of 307,093. The firm’s 50 day moving average price is $9.29 and its 200 day moving average price is $8.52. The firm has a market capitalization of $715.02 million, a price-to-earnings ratio of 7.95 and a beta of 1.06. DRDGOLD Limited has a 52-week low of $6.48 and a 52-week high of $10.82.

DRDGOLD Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, September 13th will be given a dividend of $0.1126 per share. This is an increase from DRDGOLD’s previous semi-annual dividend of $0.11. This represents a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 13th. DRDGOLD’s payout ratio is presently 15.38%.

Analysts Set New Price Targets

DRD has been the subject of a number of research reports. StockNews.com cut shares of DRDGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th. HC Wainwright lowered their price objective on shares of DRDGOLD from $15.50 to $13.25 and set a “buy” rating for the company in a report on Thursday, August 22nd.

DRDGOLD 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.