Blue Trust Inc. Trims Stock Holdings in DRDGOLD Limited $DRD

Blue Trust Inc. trimmed its position in DRDGOLD Limited (NYSE:DRD) by 52.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,698 shares of the basic materials company’s stock after selling 4,098 shares during the period. Blue Trust Inc.’s holdings in DRDGOLD were worth $49,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of DRD. U S Global Investors Inc. purchased a new stake in shares of DRDGOLD in the first quarter worth $2,150,000. Acadian Asset Management LLC purchased a new stake in shares of DRDGOLD in the first quarter worth $2,055,000. AQR Capital Management LLC purchased a new stake in shares of DRDGOLD in the first quarter worth $1,759,000. American Century Companies Inc. grew its stake in shares of DRDGOLD by 5.7% in the first quarter. American Century Companies Inc. now owns 941,915 shares of the basic materials company’s stock worth $14,571,000 after acquiring an additional 50,810 shares during the last quarter. Finally, D.A. Davidson & CO. purchased a new stake in shares of DRDGOLD in the first quarter worth $350,000. 14.70% of the stock is owned by hedge funds and other institutional investors.

DRDGOLD Price Performance

Shares of NYSE:DRD opened at $28.54 on Friday. The company has a market cap of $2.47 billion, a P/E ratio of 22.65 and a beta of 0.36. DRDGOLD Limited has a 1 year low of $8.38 and a 1 year high of $31.91. The stock’s fifty day moving average price is $22.94 and its 200-day moving average price is $17.47.

DRDGOLD Increases Dividend

The firm also recently declared an annual dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 12th were issued a dividend of $0.2269 per share. The ex-dividend date of this dividend was Friday, September 12th. This is an increase from DRDGOLD’s previous annual dividend of $0.16. This represents a dividend yield of 202.0%. DRDGOLD’s dividend payout ratio is currently 29.37%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on DRD shares. HC Wainwright increased their target price on DRDGOLD to $36.25 and gave the stock a “buy” rating in a research note on Friday. Weiss Ratings reissued a “buy (b)” rating on shares of DRDGOLD in a research note on Wednesday, October 8th. Zacks Research raised DRDGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 25th. Finally, Wall Street Zen cut DRDGOLD from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 17th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat, DRDGOLD has a consensus rating of “Buy” and an average price target of $36.25.

DRDGOLD 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.