DRDGOLD (NYSE:DRD – Get Free Report) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.
A number of other analysts also recently commented on the stock. Wall Street Zen downgraded shares of DRDGOLD from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings lowered shares of DRDGOLD from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $46.50.
View Our Latest Report on DRDGOLD
DRDGOLD Price Performance
Institutional Trading of DRDGOLD
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its position in DRDGOLD by 111.3% in the first quarter. Bank of America Corp DE now owns 34,630 shares of the basic materials company’s stock worth $1,017,000 after buying an additional 18,241 shares during the last quarter. Amundi boosted its stake in shares of DRDGOLD by 9.1% during the 1st quarter. Amundi now owns 507,710 shares of the basic materials company’s stock worth $14,911,000 after acquiring an additional 42,342 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of DRDGOLD by 21.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,895 shares of the basic materials company’s stock worth $173,000 after acquiring an additional 1,059 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of DRDGOLD during the first quarter worth $341,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of DRDGOLD by 58.3% during the first quarter. Renaissance Technologies LLC now owns 349,645 shares of the basic materials company’s stock valued at $10,269,000 after purchasing an additional 128,832 shares during the last quarter. 14.70% of the stock is owned by institutional investors and hedge funds.
DRDGOLD Company Profile
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.
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