DRDGOLD (NYSE:DRD) Upgraded to Buy by StockNews.com

DRDGOLD (NYSE:DRD) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

DRDGOLD Stock Performance

Shares of NYSE DRD traded down $0.01 during midday trading on Tuesday, hitting $8.38. The stock had a trading volume of 412,527 shares, compared to its average volume of 345,566. DRDGOLD has a 1-year low of $6.48 and a 1-year high of $13.85. The company has a fifty day moving average price of $7.79 and a 200 day moving average price of $8.13.

Institutional Investors Weigh In On DRDGOLD

Several hedge funds have recently modified their holdings of DRD. Tower Research Capital LLC TRC raised its holdings in shares of DRDGOLD by 317,900.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,180 shares of the basic materials company’s stock valued at $25,000 after buying an additional 3,179 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of DRDGOLD during the 1st quarter valued at about $36,000. Systematic Alpha Investments LLC purchased a new stake in shares of DRDGOLD during the 3rd quarter valued at about $53,000. BNP Paribas Financial Markets purchased a new stake in shares of DRDGOLD during the 4th quarter valued at about $91,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of DRDGOLD during the 4th quarter valued at about $98,000. 14.70% of the stock is currently 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.