DRDGOLD (NYSE:DRD) Stock Price Up 5.2% – Here’s What Happened

DRDGOLD Limited (NYSE:DRD) shares were up 5.2% during trading on Wednesday . The company traded as high as $10.20 and last traded at $10.16. Approximately 55,809 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 304,133 shares. The stock had previously closed at $9.66.

Analyst Ratings Changes

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

DRDGOLD Stock Performance

The company’s 50-day moving average is $10.50 and its two-hundred day moving average is $9.54.

Hedge Funds Weigh In On DRDGOLD

Hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its stake in DRDGOLD by 68.4% in the second quarter. EverSource Wealth Advisors LLC now owns 4,529 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 1,840 shares in the last quarter. Blue Trust Inc. increased its stake in DRDGOLD by 4,107.5% in the 2nd quarter. Blue Trust Inc. now owns 6,143 shares of the basic materials company’s stock valued at $50,000 after buying an additional 5,997 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in shares of DRDGOLD during the second quarter valued at approximately $86,000. Virtu Financial LLC bought a new position in DRDGOLD during the third quarter valued at about $119,000. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in 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 purchasing an additional 1,802 shares during the last quarter. Institutional investors and hedge funds 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.