Short Interest in DRDGOLD Limited (NYSE:DRD) Declines By 20.9%

DRDGOLD Limited (NYSE:DRD) was the target of a large decline in short interest during the month of December. As of December 31st, there was short interest totaling 493,968 shares, a decline of 20.9% from the December 15th total of 624,355 shares. Based on an average daily trading volume, of 424,648 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.6% of the shares of the company are short sold. Currently, 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 424,648 shares, the days-to-cover ratio is currently 1.2 days.

DRDGOLD Stock Up 1.0%

DRD traded up $0.37 during trading on Friday, hitting $36.23. The company’s stock had a trading volume of 392,302 shares, compared to its average volume of 325,566. DRDGOLD has a one year low of $9.11 and a one year high of $36.56. The business’s 50 day simple moving average is $30.57 and its 200-day simple moving average is $24.13.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on DRD shares. HC Wainwright lifted their price target on shares of DRDGOLD to $36.25 and gave the stock a “buy” rating in a research note on Friday, October 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DRDGOLD in a research report on Wednesday, October 8th. Zacks Research raised DRDGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. Finally, Wall Street Zen downgraded DRDGOLD from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 3rd. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.25.

Institutional Trading of DRDGOLD

A number of hedge funds and other institutional investors have recently bought and sold shares of DRD. AQR Capital Management LLC purchased a new position in shares of DRDGOLD during the 1st quarter valued at about $1,759,000. GAMMA Investing LLC boosted its position in shares of DRDGOLD by 29.7% in the second quarter. GAMMA Investing LLC now owns 6,422 shares of the basic materials company’s stock worth $86,000 after purchasing an additional 1,469 shares during the period. U S Global Investors Inc. boosted its position in shares of DRDGOLD by 91.3% in the second quarter. U S Global Investors Inc. now owns 265,755 shares of the basic materials company’s stock worth $3,543,000 after purchasing an additional 126,804 shares during the period. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of DRDGOLD in the second quarter worth $291,000. Finally, Kiker Wealth Management LLC bought a new stake in shares of DRDGOLD during the 2nd quarter valued at $142,000. Hedge funds and other institutional investors own 14.70% of the company’s stock.

About DRDGOLD

DRDGOLD (NYSE: DRD) is a South African gold producer focused on the retreatment of surface tailings from historic mining operations on the Witwatersrand Basin. The company recovers fine gold particles from low‐grade tailings using an integrated, carbon‐in‐leach (CIL) processing circuit that is designed to maximize yield and minimize environmental impact. DRDGOLD’s operations are centered on sustainable resource utilization, transforming previously discarded material into saleable gold doré bars.

The company operates two primary tailings retreatment facilities on the West Rand and East Rand of Gauteng Province.