DRDGOLD (NYSE:DRD) Sees Unusually-High Trading Volume – Should You Buy?

Shares of DRDGOLD Limited (NYSE:DRD) saw unusually-high trading volume on Friday . Approximately 112,937 shares were traded during trading, a decline of 34% from the previous session’s volume of 172,094 shares.The stock last traded at $9.47 and had previously closed at $9.07.

Analyst Upgrades and Downgrades

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

DRDGOLD Stock Performance

The company has a fifty day simple moving average of $9.47 and a 200-day simple moving average of $9.61.

Institutional Investors Weigh In On DRDGOLD

Hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp grew its position in DRDGOLD by 24.2% during the 3rd quarter. Van ECK Associates Corp now owns 6,621,470 shares of the basic materials company’s stock worth $63,831,000 after purchasing an additional 1,291,541 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of DRDGOLD by 36.8% during the second quarter. American Century Companies Inc. now owns 679,600 shares of the basic materials company’s stock valued at $5,851,000 after buying an additional 182,900 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in DRDGOLD by 12.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 435,243 shares of the basic materials company’s stock valued at $4,196,000 after buying an additional 48,442 shares during the period. U S Global Investors Inc. purchased a new stake in DRDGOLD in the 3rd quarter worth about $2,388,000. Finally, Marshall Wace LLP boosted 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 acquiring an additional 53,081 shares during the period. Hedge funds and other institutional investors own 14.70% of the company’s stock.

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.