DRDGOLD (NYSE:DRD) Shares Gap Up – Here’s What Happened

Shares of DRDGOLD Limited (NYSE:DRD) gapped up prior to trading on Tuesday . The stock had previously closed at $8.63, but opened at $8.93. DRDGOLD shares last traded at $9.08, with a volume of 60,435 shares trading hands.

Analyst Ratings Changes

DRD has been the topic of several analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $13.25 price target on shares of DRDGOLD in a research note on Friday, October 18th. StockNews.com lowered shares of DRDGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th.

DRDGOLD Stock Performance

The firm has a fifty day simple moving average of $9.59 and a 200 day simple moving average of $9.60. The company has a market cap of $786.78 million, a PE ratio of 8.58 and a beta of 1.05.

Institutional Investors Weigh In On DRDGOLD

A number of institutional investors have recently bought and sold shares of DRD. U S Global Investors Inc. acquired a new position in DRDGOLD in the third quarter valued at $2,388,000. Van ECK Associates Corp lifted its stake in shares of DRDGOLD by 24.2% in the 3rd quarter. Van ECK Associates Corp now owns 6,621,470 shares of the basic materials company’s stock valued at $63,831,000 after purchasing an additional 1,291,541 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of DRDGOLD by 270.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 79,277 shares of the basic materials company’s stock worth $683,000 after purchasing an additional 57,875 shares during the period. Blue Trust Inc. grew its holdings 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 during the period. Finally, Marshall Wace LLP increased its position in DRDGOLD by 34.3% during the 2nd quarter. Marshall Wace LLP now owns 208,006 shares of the basic materials company’s stock worth $1,791,000 after purchasing an additional 53,081 shares in the last quarter. 14.70% of the stock is currently owned by hedge funds and other institutional investors.

DRDGOLD Company Profile

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.