DRDGOLD (NYSE:DRD) Trading Up 6.3% – What’s Next?

DRDGOLD Limited (NYSE:DRD)’s share price rose 6.3% during mid-day trading on Tuesday . The stock traded as high as $9.43 and last traded at $9.43. Approximately 118,765 shares were traded during trading, a decline of 40% from the average daily volume of 198,014 shares. The stock had previously closed at $8.87.

Analysts Set New Price Targets

Several brokerages have weighed in on DRD. StockNews.com cut DRDGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. HC Wainwright reissued a “buy” rating and set a $13.25 price target on shares of DRDGOLD in a research report on Friday, October 18th.

DRDGOLD Stock Up 7.3 %

The firm has a fifty day moving average price of $9.42 and a 200-day moving average price of $9.62.

Hedge Funds Weigh In On DRDGOLD

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its holdings in shares of DRDGOLD by 53.0% during 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 last quarter. EverSource Wealth Advisors LLC grew 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 buying an additional 1,840 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in shares of DRDGOLD in the second quarter worth about $86,000. Virtu Financial LLC bought a new stake in shares of DRDGOLD in the 3rd quarter valued at about $119,000. Finally, Blue Trust Inc. boosted its holdings in DRDGOLD by 488.4% during the 3rd quarter. Blue Trust Inc. now owns 36,144 shares of the basic materials company’s stock valued at $348,000 after acquiring an additional 30,001 shares during the period. 14.70% of the stock is currently owned by hedge funds and other 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.