DRDGOLD Limited (NYSE:DRD – Get Free Report) insider Henry Gouws sold 16,826 shares of DRDGOLD stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $2.75, for a total value of $46,271.50. Following the transaction, the insider owned 3,050 shares in the company, valued at approximately $8,387.50. This represents a 84.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
DRDGOLD Price Performance
Shares of DRD opened at $28.54 on Friday. DRDGOLD Limited has a 12-month low of $19.47 and a 12-month high of $39.37. The firm has a 50-day moving average price of $23.69 and a 200 day moving average price of $27.09.
DRDGOLD (NYSE:DRD – Get Free Report) last released its quarterly earnings data on Wednesday, August 19th. The basic materials company reported $0.83 earnings per share (EPS) for the quarter. The firm had revenue of $188.03 million for the quarter. On average, sell-side analysts anticipate that DRDGOLD Limited will post 3.12 earnings per share for the current year.
DRDGOLD Announces Dividend
Institutional Trading of DRDGOLD
Several institutional investors have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise purchased a new stake in DRDGOLD in the fourth quarter valued at approximately $42,000. Farther Finance Advisors LLC lifted its stake in DRDGOLD by 33.5% during the fourth quarter. Farther Finance Advisors LLC now owns 2,256 shares of the basic materials company’s stock worth $70,000 after purchasing an additional 566 shares in the last quarter. Osaic Holdings Inc. boosted its position 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 buying an additional 713 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of DRDGOLD during the third quarter worth $102,000. Finally, Smartleaf Asset Management LLC acquired a new stake in shares of DRDGOLD in the fourth quarter valued at $140,000. Institutional investors and hedge funds own 14.70% of the company’s stock.
DRDGOLD News Roundup
Here are the key news stories impacting DRDGOLD this week:
- Positive Sentiment: Strong year and gold-market exposure: Mining Weekly characterized the past year as “very good” for DRDGOLD, supporting the view that favorable gold prices and operating performance remain important catalysts for the gold-tailings retreatment company. It’s been a very good year for DRDGOLD
- Positive Sentiment: Dividend and analyst support: DRDGOLD declared a $0.7379-per-share dividend payable September 21 to shareholders of record September 11. HC Wainwright also raised its price target to $35 and maintained a Buy rating, while the reported analyst consensus is Hold with a $35 target.
- Positive Sentiment: Institutional accumulation: Several funds increased their holdings during the second quarter, including JPMorgan, Arrowstreet Capital, Jane Street and Bank of America. Institutional investors collectively own about 14.7% of the company, providing some evidence of continued professional-investor interest.
- Neutral Sentiment: Insider sales followed award vesting: CEO Daniel Pretorius, CFO Henriette Hooijer, COO Jacobus Schoeman and other insiders sold shares on September 1 at an average price of $2.75. The transactions followed deferred-award vesting, so they may represent routine tax or liquidity-related sales rather than a negative change in management’s view of the business. The CEO retained nearly 1 million shares after his sale. DRDGOLD stock gains as insider share sales follow deferred award vesting
- Negative Sentiment: Broad insider selling weighs on sentiment: Nine executives and insiders sold approximately 127,494 shares worth $350,609 in total. Several individuals reduced their positions by roughly 45% to 85%, while Zacks Research downgraded the stock to Strong Sell. The breadth of selling could create near-term concern despite the company’s favorable operating trends. DRDGOLD insider selling report
Analyst Upgrades and Downgrades
A number of research firms recently commented on DRD. HC Wainwright upped their price objective on DRDGOLD from $33.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of DRDGOLD in a research note on Monday, August 3rd. Wall Street Zen downgraded DRDGOLD from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. Finally, Zacks Research lowered DRDGOLD from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 4th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, DRDGOLD has an average rating of “Hold” and a consensus target price of $35.00.
Check Out Our Latest Stock Analysis on DRD
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.
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