DRDGOLD Limited (NYSE:DRD) Short Interest Down 7.7% in December

DRDGOLD Limited (NYSE:DRD) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 1,670,000 shares, a drop of 7.7% from the December 15th total of 1,810,000 shares. Based on an average daily volume of 241,600 shares, the days-to-cover ratio is presently 6.9 days.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. StockNews.com downgraded shares of DRDGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. HC Wainwright reissued a “buy” rating and issued a $13.25 target price on shares of DRDGOLD in a research report on Friday, October 18th.

Institutional Trading of DRDGOLD

Institutional investors have recently modified their holdings of the business. Van ECK Associates Corp raised 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 valued at $63,831,000 after acquiring an additional 1,291,541 shares during the period. American Century Companies Inc. grew its position in shares of DRDGOLD by 36.8% in the second quarter. American Century Companies Inc. now owns 679,600 shares of the basic materials company’s stock valued at $5,851,000 after purchasing an additional 182,900 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of 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 valued at $4,196,000 after purchasing an additional 48,442 shares during the period. U S Global Investors Inc. purchased a new stake in DRDGOLD during the 3rd quarter worth about $2,388,000. Finally, Marshall Wace LLP boosted its stake in DRDGOLD by 34.3% in the 2nd quarter. Marshall Wace LLP now owns 208,006 shares of the basic materials company’s stock worth $1,791,000 after purchasing an additional 53,081 shares during the period. 14.70% of the stock is currently owned by hedge funds and other institutional investors.

DRDGOLD Price Performance

NYSE DRD traded up $0.04 during trading on Monday, hitting $9.30. 149,034 shares of the company’s stock traded hands, compared to its average volume of 185,346. DRDGOLD has a 12-month low of $6.48 and a 12-month high of $12.70. The business has a 50 day moving average of $9.27 and a 200-day moving average of $9.64.

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.