DRDGOLD (NYSE:DRD) Sees Unusually-High Trading Volume – What’s Next?

Shares of DRDGOLD Limited (NYSE:DRD) saw an uptick in trading volume on Monday . 232,798 shares traded hands during trading, a decline of 28% from the previous session’s volume of 322,743 shares.The stock last traded at $13.69 and had previously closed at $13.89.

Wall Street Analyst Weigh In

DRD has been the topic of a number of research reports. StockNews.com raised shares of DRDGOLD from a “hold” rating to a “buy” rating in a research report on Friday, March 14th. HC Wainwright cut their price target on shares of DRDGOLD from $17.25 to $16.25 and set a “buy” rating on the stock in a research report on Wednesday, February 19th.

DRDGOLD Stock Up 7.8 %

The stock has a market capitalization of $1.26 billion, a P/E ratio of 11.54 and a beta of 1.09. The stock has a 50 day simple moving average of $11.03 and a two-hundred day simple moving average of $10.22.

DRDGOLD Dividend Announcement

The company also recently announced an annual dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, March 14th will be issued a dividend of $0.1628 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a yield of 1.8%. DRDGOLD’s payout ratio is 19.05%.

Institutional Trading of DRDGOLD

A number of large investors have recently added to or reduced their stakes in the company. PKO Investment Management Joint Stock Co acquired a new position in shares of DRDGOLD during the 4th quarter worth about $439,000. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. bought a new stake in DRDGOLD in the fourth quarter valued at approximately $276,000. Public Employees Retirement System of Ohio lifted its position in shares of DRDGOLD by 26.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 56,592 shares of the basic materials company’s stock valued at $488,000 after buying an additional 11,921 shares during the last quarter. GTS Securities LLC bought a new position in shares of DRDGOLD during the 4th quarter worth approximately $170,000. Finally, Squarepoint Ops LLC bought a new position in shares of DRDGOLD during the 4th quarter worth approximately $110,000. Institutional investors and hedge funds own 14.70% of the company’s stock.

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.