DRDGOLD (NYSE:DRD) Sees Large Volume Increase – Here’s Why

DRDGOLD Limited (NYSE:DRD) shares saw unusually-strong trading volume on Friday . Approximately 112,937 shares traded hands during trading, a decline of 34% from the previous session’s volume of 172,094 shares.The stock last traded at $9.47 and had previously closed at $9.07.

Analyst Ratings Changes

A number of brokerages recently issued reports on DRD. HC Wainwright restated a “buy” rating and issued a $13.25 target price on shares of DRDGOLD in a report on Friday, October 18th. StockNews.com downgraded DRDGOLD from a “buy” rating to a “hold” rating in a report on Thursday, September 26th.

DRDGOLD Stock Performance

The stock has a market cap of $797.15 million, a price-to-earnings ratio of 8.70 and a beta of 1.05. The business’s 50 day moving average is $9.53 and its 200 day moving average is $9.60.

Institutional Investors Weigh In On DRDGOLD

Several hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp raised its holdings in shares of DRDGOLD by 24.2% during the third 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. U S Global Investors Inc. purchased a new stake in shares of DRDGOLD during the 3rd quarter worth about $2,388,000. American Century Companies Inc. raised its stake in shares of 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 purchasing an additional 182,900 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of 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 buying an additional 57,875 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in DRDGOLD by 34.3% in the second quarter. Marshall Wace LLP now owns 208,006 shares of the basic materials company’s stock worth $1,791,000 after buying an additional 53,081 shares during the last quarter. 14.70% of the stock is owned by hedge funds and other institutional investors.

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.