DRDGOLD (NYSE:DRD) Shares Gap Up – Still a Buy?

DRDGOLD Limited (NYSE:DRD) shares 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 changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. StockNews.com cut DRDGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. HC Wainwright restated a “buy” rating and set a $13.25 price objective on shares of DRDGOLD in a research note on Friday, October 18th.

DRDGOLD Stock Up 3.2 %

The stock has a market cap of $770.35 million, a P/E ratio of 8.41 and a beta of 1.05. The firm’s 50 day simple moving average is $9.73 and its two-hundred day simple moving average is $9.61.

Institutional Investors Weigh In On DRDGOLD

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC lifted its stake in DRDGOLD by 53.0% in the fourth quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company’s stock valued at $28,000 after buying an additional 1,122 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in DRDGOLD by 11.7% during the third quarter. JPMorgan Chase & Co. now owns 93,206 shares of the basic materials company’s stock worth $899,000 after acquiring an additional 9,765 shares during the period. Virtu Financial LLC bought a new stake in shares of DRDGOLD in the 3rd quarter worth approximately $119,000. Public Employees Retirement System of Ohio acquired a new stake in shares of DRDGOLD during the 3rd quarter valued at $431,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of DRDGOLD by 12.5% in the 3rd 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 purchasing an additional 48,442 shares during the period. Institutional investors and hedge funds 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.