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 report released on Wednesday morning.

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

DRDGOLD Stock Performance

Shares of DRD opened at $9.81 on Wednesday. The stock has a market cap of $848.16 million, a PE ratio of 11.41 and a beta of 1.12. DRDGOLD has a fifty-two week low of $6.48 and a fifty-two week high of $10.69. The firm’s 50-day simple moving average is $9.13 and its two-hundred day simple moving average is $8.69.

DRDGOLD Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, September 13th will be given a dividend of $0.1126 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a dividend yield of 1.9%. This is an increase from DRDGOLD’s previous semi-annual dividend of $0.11. DRDGOLD’s dividend payout ratio (DPR) is 19.77%.

Institutional Investors Weigh In On DRDGOLD

Several institutional investors and hedge funds have recently made changes to their positions in DRD. Van ECK Associates Corp boosted its holdings in DRDGOLD by 7.0% in 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 during the last quarter. American Century Companies Inc. boosted its holdings in DRDGOLD by 36.8% in the second 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 during the last quarter. Marshall Wace LLP boosted 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 purchasing an additional 53,081 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in DRDGOLD by 270.4% in the second quarter. Dimensional Fund Advisors LP now owns 79,277 shares of the basic materials company’s stock worth $683,000 after purchasing an additional 57,875 shares during the last quarter. Finally, Trexquant Investment LP boosted its holdings in DRDGOLD by 88.4% in 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 during the last quarter. Institutional investors own 14.70% of the company’s stock.

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.