DRDGOLD (NYSE:DRD) Upgraded at StockNews.com

StockNews.com upgraded shares of DRDGOLD (NYSE:DRD) from a hold rating to a buy rating in a report issued on Wednesday morning.

Separately, HC Wainwright reduced their price objective on DRDGOLD from $17.25 to $16.25 and set a “buy” rating on the stock in a research note on Wednesday.

DRDGOLD Stock Performance

Shares of DRD opened at $11.05 on Wednesday. The business’s fifty day moving average price is $9.70 and its 200 day moving average price is $9.78. DRDGOLD has a 12-month low of $6.48 and a 12-month high of $12.70.

Institutional Investors Weigh In On DRDGOLD

A number of hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its stake in DRDGOLD by 24.2% in the third quarter. Van ECK Associates Corp now owns 6,621,470 shares of the basic materials company’s stock valued at $63,831,000 after buying an additional 1,291,541 shares during the last quarter. American Century Companies Inc. lifted its stake in DRDGOLD by 72.9% in the fourth quarter. American Century Companies Inc. now owns 891,105 shares of the basic materials company’s stock valued at $7,690,000 after buying an additional 375,705 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in DRDGOLD by 15.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 502,100 shares of the basic materials company’s stock valued at $4,333,000 after buying an additional 66,857 shares during the last quarter. Invesco Ltd. lifted its stake in DRDGOLD by 8.1% in the fourth quarter. Invesco Ltd. now owns 266,360 shares of the basic materials company’s stock valued at $2,299,000 after buying an additional 20,000 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. bought a new stake in DRDGOLD in the fourth quarter valued at $1,449,000. 14.70% of the stock is currently owned by 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.