DRDGOLD (NYSE:DRD – Get Free Report) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.
Other analysts have also issued research reports about the company. HC Wainwright reiterated a “buy” rating and issued a $35.00 target price on shares of DRDGOLD in a research note on Thursday, July 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of DRDGOLD in a research note on Monday. Finally, Wall Street Zen cut shares of DRDGOLD from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $35.00.
Check Out Our Latest Research Report on DRD
DRDGOLD Trading Up 6.5%
Institutional Investors Weigh In On DRDGOLD
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise purchased a new position in shares of DRDGOLD in the fourth quarter worth about $42,000. Farther Finance Advisors LLC lifted its position in shares of DRDGOLD by 33.5% during the 4th quarter. Farther Finance Advisors LLC now owns 2,256 shares of the basic materials company’s stock valued at $70,000 after buying an additional 566 shares in the last quarter. Osaic Holdings Inc. increased its stake in shares of DRDGOLD by 11.5% during the second quarter. Osaic Holdings Inc. now owns 6,892 shares of the basic materials company’s stock worth $92,000 after purchasing an additional 713 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of DRDGOLD during the third quarter worth approximately $102,000. Finally, Smartleaf Asset Management LLC acquired a new stake in DRDGOLD in the 4th quarter valued at about $140,000. 14.70% of the stock is currently owned by hedge funds and other institutional investors.
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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