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

StockNews.com upgraded shares of DRDGOLD (NYSE:DRD) from a hold rating to a buy rating in a research report released on Wednesday morning.

Separately, HC Wainwright cut their price objective on shares of DRDGOLD from $17.25 to $16.25 and set a “buy” rating on the stock in a research note on Wednesday.

DRDGOLD Stock Performance

Shares of NYSE DRD opened at $11.05 on Wednesday. DRDGOLD has a fifty-two week low of $6.48 and a fifty-two week high of $12.70. The firm’s 50-day simple moving average is $9.70 and its 200 day simple moving average is $9.78.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Aquatic Capital Management LLC acquired a new position in DRDGOLD during the fourth quarter worth about $25,000. GAMMA Investing LLC grew its holdings in DRDGOLD by 53.0% during the fourth quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 1,122 shares during the period. QRG Capital Management Inc. acquired a new position in DRDGOLD during the fourth quarter worth about $98,000. Virtu Financial LLC acquired a new position in DRDGOLD during the third quarter worth about $119,000. Finally, Squarepoint Ops LLC acquired a new position in DRDGOLD during the fourth quarter worth about $110,000. 14.70% of the stock is owned by institutional investors and hedge funds.

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.