DRDGOLD Limited (NYSE:DRD – Get Free Report) announced a dividend on Wednesday, August 19th. Investors of record on Friday, September 11th will be paid a dividend of 0.7379 per share by the basic materials company on Monday, September 21st. This represents a yield of 530.0%. The ex-dividend date is Friday, September 11th.
DRDGOLD has raised its dividend by an average of 0.0%annually over the last three years. DRDGOLD has a payout ratio of 77.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect DRDGOLD to earn $4.30 per share next year, which means the company should continue to be able to cover its $1.18 annual dividend with an expected future payout ratio of 27.4%.
DRDGOLD Stock Down 1.9%
Shares of DRD opened at $28.05 on Wednesday. DRDGOLD has a 1 year low of $19.47 and a 1 year high of $39.37. The stock has a 50 day simple moving average of $23.97 and a two-hundred day simple moving average of $26.96.
Analyst Ratings Changes
DRD has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of DRDGOLD in a research note on Monday, August 3rd. Wall Street Zen downgraded shares of DRDGOLD from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. Zacks Research cut DRDGOLD from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 4th. Finally, HC Wainwright upped their price target on DRDGOLD from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, DRDGOLD has an average rating of “Hold” and an average price target of $35.00.
Check Out Our Latest Research Report on DRDGOLD
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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