DRDGOLD (NYSE:DRD – Free Report) had its price objective raised by HC Wainwright from $33.00 to $35.00 in a research note published on Thursday morning, Marketbeat reports. HC Wainwright currently has a buy rating on the basic materials company’s stock.
DRD has been the subject of a number of other research reports. Wall Street Zen lowered DRDGOLD from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of DRDGOLD in a research note on Monday, August 3rd. Finally, Zacks Research cut DRDGOLD from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $35.00.
Read Our Latest Stock Report on DRDGOLD
DRDGOLD Price Performance
DRDGOLD (NYSE:DRD – Get Free Report) last issued its earnings results on Wednesday, August 19th. The basic materials company reported $0.83 earnings per share for the quarter. The company had revenue of $188.03 million for the quarter. As a group, analysts anticipate that DRDGOLD will post 3.12 earnings per share for the current fiscal year.
DRDGOLD Dividend Announcement
The firm also recently disclosed a dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 11th will be given a $0.7379 dividend. This represents a yield of 530.0%. The ex-dividend date of this dividend is Friday, September 11th.
Hedge Funds Weigh In On DRDGOLD
A number of hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its stake 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 acquiring an additional 128,832 shares in the last quarter. Amundi grew its stake in DRDGOLD by 9.1% in the first quarter. Amundi now owns 507,710 shares of the basic materials company’s stock worth $14,911,000 after purchasing an additional 42,342 shares in the last quarter. ABC Arbitrage SA grew its stake in DRDGOLD by 107.2% in the fourth quarter. ABC Arbitrage SA now owns 127,033 shares of the basic materials company’s stock worth $3,939,000 after purchasing an additional 65,729 shares in the last quarter. Sei Investments Co. grew its stake in DRDGOLD by 60.8% in the first quarter. Sei Investments Co. now owns 79,738 shares of the basic materials company’s stock worth $2,342,000 after purchasing an additional 30,137 shares in the last quarter. Finally, TD Waterhouse Canada Inc. increased its holdings in DRDGOLD by 5,273.3% during the 4th quarter. TD Waterhouse Canada Inc. now owns 22,568 shares of the basic materials company’s stock worth $699,000 after purchasing an additional 22,148 shares during the period. 14.70% of the stock is currently owned by institutional investors.
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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