DRDGOLD Limited (NYSE:DRD) Sees Large Decline in Short Interest

DRDGOLD Limited (NYSE:DRD) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 1,670,000 shares, a decrease of 7.7% from the December 15th total of 1,810,000 shares. Based on an average daily volume of 241,600 shares, the days-to-cover ratio is presently 6.9 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of DRDGOLD by 53.0% in the 4th quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 1,122 shares during the period. EverSource Wealth Advisors LLC boosted its stake in DRDGOLD by 68.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,529 shares of the basic materials company’s stock valued at $39,000 after buying an additional 1,840 shares in the last quarter. Virtu Financial LLC bought a new stake in DRDGOLD in the third quarter valued at $119,000. Blue Trust Inc. increased its position in shares of DRDGOLD by 488.4% during the 3rd quarter. Blue Trust Inc. now owns 36,144 shares of the basic materials company’s stock worth $348,000 after purchasing an additional 30,001 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in DRDGOLD during the 3rd quarter valued at about $431,000. 14.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on DRD. HC Wainwright restated a “buy” rating and issued a $13.25 price objective on shares of DRDGOLD in a research note on Friday, October 18th. StockNews.com downgraded shares of DRDGOLD from a “buy” rating to a “hold” rating in a report on Thursday, September 26th.

DRDGOLD Price Performance

Shares of DRD stock traded up $0.04 during mid-day trading on Friday, reaching $9.30. The stock had a trading volume of 149,034 shares, compared to its average volume of 185,346. DRDGOLD has a one year low of $6.48 and a one year high of $12.70. The firm’s 50 day simple moving average is $9.27 and its 200 day simple moving average is $9.63.

About DRDGOLD

DRDGOLD Limited, a gold mining company, engages in the surface gold tailings retreatment business in South Africa. It also involved in the exploration, extraction, processing, and smelting activities. The company recovers gold from surface tailings in the Witwatersrand basin in Gauteng province. DRDGOLD Limited was formerly known as Durban Roodepoort Deep Limited and changed its name to DRDGOLD Limited in 2004.