DRDGOLD (NYSE:DRD) Shares Gap Up – Still a Buy?

DRDGOLD Limited (NYSE:DRD) gapped up prior to trading on Tuesday . The stock had previously closed at $9.30, but opened at $9.77. DRDGOLD shares last traded at $9.69, with a volume of 49,648 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and set a $13.25 price target on shares of DRDGOLD in a research note on Friday, October 18th. StockNews.com cut DRDGOLD from a “buy” rating to a “hold” rating in a report on Thursday, September 26th.

DRDGOLD Stock Performance

The firm’s 50 day simple moving average is $9.26 and its 200-day simple moving average is $9.64.

Institutional Trading of DRDGOLD

Several large investors have recently modified their holdings of DRD. American Century Companies Inc. raised 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 valued at $5,851,000 after acquiring an additional 182,900 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of DRDGOLD by 270.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 79,277 shares of the basic materials company’s stock worth $683,000 after buying an additional 57,875 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in DRDGOLD by 68.4% during the second quarter. EverSource Wealth Advisors LLC now owns 4,529 shares of the basic materials company’s stock valued at $39,000 after buying an additional 1,840 shares in the last quarter. Marshall Wace LLP grew its holdings in DRDGOLD by 34.3% during the second quarter. Marshall Wace LLP now owns 208,006 shares of the basic materials company’s stock worth $1,791,000 after acquiring an additional 53,081 shares during the period. Finally, Blue Trust Inc. raised its position in DRDGOLD by 488.4% in the third quarter. Blue Trust Inc. now owns 36,144 shares of the basic materials company’s stock worth $348,000 after acquiring an additional 30,001 shares in the last quarter. 14.70% of the stock is currently owned by institutional investors and hedge funds.

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.