DRDGOLD (NYSE:DRD) Shares Gap Down – Here’s What Happened

DRDGOLD Limited (NYSE:DRD)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $9.92, but opened at $9.62. DRDGOLD shares last traded at $9.66, with a volume of 47,099 shares.

Analysts Set New Price Targets

DRD has been the topic of several analyst reports. HC Wainwright reiterated a “buy” rating and set a $13.25 price target on shares of DRDGOLD in a report on Friday, October 18th. StockNews.com lowered DRDGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th.

DRDGOLD Price Performance

The business has a 50 day simple moving average of $10.50 and a two-hundred day simple moving average of $9.45.

DRDGOLD Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 13th were paid a $0.1126 dividend. This represents a yield of 1.9%. The ex-dividend date of this dividend was Friday, September 13th. This is an increase from DRDGOLD’s previous semi-annual dividend of $0.11.

Institutional Investors Weigh In On DRDGOLD

Several large investors have recently added to or reduced their stakes in DRD. EverSource Wealth Advisors LLC increased its position in shares of DRDGOLD by 68.4% during the second quarter. EverSource Wealth Advisors LLC now owns 4,529 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 1,840 shares during the period. Blue Trust Inc. lifted its holdings in shares of DRDGOLD by 4,107.5% in the 2nd quarter. Blue Trust Inc. now owns 6,143 shares of the basic materials company’s stock worth $50,000 after buying an additional 5,997 shares during the period. Thompson Siegel & Walmsley LLC bought a new position in shares of DRDGOLD during the 2nd quarter worth $86,000. Virtu Financial LLC purchased a new position in shares of DRDGOLD during the third quarter valued at $119,000. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in shares of DRDGOLD by 11.3% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 17,778 shares of the basic materials company’s stock valued at $153,000 after acquiring an additional 1,802 shares in 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.