DRDGOLD (NYSE:DRD) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of DRDGOLD (NYSE:DRD) from a hold rating to a buy rating in a research note issued to investors on Wednesday.

Separately, HC Wainwright lowered their price target on shares of DRDGOLD from $15.50 to $13.25 and set a buy rating for the company in a research note on Thursday, August 22nd.

DRDGOLD Stock Performance

Shares of NYSE:DRD opened at $9.81 on Wednesday. DRDGOLD has a 52-week low of $6.48 and a 52-week high of $10.69. The firm has a fifty day moving average of $9.13 and a 200 day moving average of $8.69. The firm has a market capitalization of $848.16 million, a PE ratio of 11.41 and a beta of 1.12.

DRDGOLD Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, September 13th will be paid a $0.1126 dividend. The ex-dividend date is Friday, September 13th. This is an increase from DRDGOLD’s previous semi-annual dividend of $0.11. This represents a yield of 1.9%. DRDGOLD’s payout ratio is currently 19.77%.

Institutional Trading of DRDGOLD

Hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its stake in shares of DRDGOLD by 68.4% during the second quarter. EverSource Wealth Advisors LLC now owns 4,529 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 1,840 shares during the last quarter. Blue Trust Inc. increased its position in shares of DRDGOLD by 4,107.5% during the second quarter. Blue Trust Inc. now owns 6,143 shares of the basic materials company’s stock valued at $50,000 after buying an additional 5,997 shares during the period. Thompson Siegel & Walmsley LLC purchased a new position in shares of DRDGOLD during the second quarter valued at about $86,000. Hennion & Walsh Asset Management Inc. purchased a new position in shares of DRDGOLD during the first quarter valued at about $131,000. Finally, Creekmur Asset Management LLC purchased a new position in shares of DRDGOLD during the fourth quarter valued at about $216,000. 14.70% of the stock is owned by institutional investors.

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.