DRDGOLD (NYSE:DRD) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of DRDGOLD (NYSE:DRD) from a hold rating to a buy rating in a research note published on Wednesday morning.

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

DRDGOLD Stock Performance

Shares of NYSE DRD opened at $9.81 on Wednesday. The company has a market capitalization of $848.16 million, a PE ratio of 11.41 and a beta of 1.12. The company’s fifty day moving average price is $9.13 and its 200 day moving average price is $8.68. DRDGOLD has a 1 year low of $6.48 and a 1 year high of $10.69.

DRDGOLD Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, September 13th will be paid a $0.1126 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a yield of 1.9%. This is a boost from DRDGOLD’s previous semi-annual dividend of $0.11. DRDGOLD’s dividend payout ratio (DPR) is currently 18.60%.

Hedge Funds Weigh In On DRDGOLD

A number of large investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its stake in shares of 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 worth $53,818,000 after purchasing an additional 430,603 shares in the last quarter. American Century Companies Inc. increased its stake in DRDGOLD by 36.8% during the 2nd quarter. American Century Companies Inc. now owns 679,600 shares of the basic materials company’s stock worth $5,851,000 after buying an additional 182,900 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of DRDGOLD by 34.3% during the second quarter. Marshall Wace LLP now owns 208,006 shares of the basic materials company’s stock valued at $1,791,000 after acquiring an additional 53,081 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of DRDGOLD by 270.4% in the second quarter. Dimensional Fund Advisors LP now owns 79,277 shares of the basic materials company’s stock valued at $683,000 after acquiring an additional 57,875 shares in the last quarter. Finally, Trexquant Investment LP increased its position in shares of DRDGOLD by 88.4% during 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 in the last quarter. 14.70% of the stock is currently owned by institutional investors and hedge funds.

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.