DRDGOLD (NYSE:DRD) Downgraded by Zacks Research to “Strong Sell”

Zacks Research lowered shares of DRDGOLD (NYSE:DRD) from a strong-buy rating to a strong sell rating in a research report report published on Monday morning,Zacks.com reports.

A number of other analysts also recently commented on DRD. Wall Street Zen downgraded shares of DRDGOLD from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of DRDGOLD in a report on Wednesday, October 8th. Finally, HC Wainwright boosted their target price on shares of DRDGOLD to $36.25 and gave the stock a “buy” rating in a report on Friday. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, DRDGOLD has a consensus rating of “Hold” and an average price target of $36.25.

DRDGOLD Price Performance

NYSE DRD opened at $25.87 on Monday. The company’s 50 day simple moving average is $23.43 and its 200 day simple moving average is $17.65. DRDGOLD has a 12 month low of $8.38 and a 12 month high of $31.91. The company has a market capitalization of $2.24 billion, a P/E ratio of 20.53 and a beta of 0.36.

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 was Friday, September 12th. This represents a dividend yield of 202.0%. This is an increase from DRDGOLD’s previous annual dividend of $0.16. DRDGOLD’s payout ratio is 29.37%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DRD. Rockefeller Capital Management L.P. bought a new position in shares of DRDGOLD during the 2nd quarter valued at $2,505,000. U S Global Investors Inc. bought a new stake in shares of DRDGOLD during the 1st quarter worth $2,150,000. Acadian Asset Management LLC bought a new stake in shares of DRDGOLD during the 1st quarter worth $2,055,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of DRDGOLD by 75.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 291,249 shares of the basic materials company’s stock worth $3,882,000 after buying an additional 124,831 shares during the period. Finally, AQR Capital Management LLC bought a new stake in shares of DRDGOLD during the 1st quarter worth $1,759,000. Institutional investors 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.