DRDGOLD (NYSE:DRD) Stock Bumped Up to Hold by Zacks Research

Key Points

• Zacks Research upgraded DRDGOLD from “strong sell” to “hold.” Despite the change, the broader analyst consensus remains “Moderate Buy,” with a $35.00 price target.
• DRDGOLD reported quarterly earnings of $0.83 per share on revenue of $188.03 million. Shares opened at $25.35, compared with a 52-week range of $19.47 to $39.37.
• Company insiders sold 139,080 shares worth approximately $382,470 over the past 90 days, while institutional investors own 14.70% of the stock.

DRDGOLD (NYSE:DRD - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Monday, Zacks reports.

Other analysts have also recently issued reports about the stock. Weiss Ratings restated a "buy (b-)" rating on shares of DRDGOLD in a report on Monday, August 3rd. HC Wainwright lifted their price objective on shares of DRDGOLD from $33.00 to $35.00 and gave the stock a "buy" rating in a research report on Thursday, August 20th. Finally, Wall Street Zen lowered shares of DRDGOLD from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 4th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.00.

DRDGOLD Stock Performance

Shares of NYSE DRD opened at $25.35 on Monday. DRDGOLD has a 1-year low of $19.47 and a 1-year high of $39.37. The business has a fifty day moving average price of $26.29 and a 200 day moving average price of $25.53.

DRDGOLD (NYSE:DRD - Get Free Report) last posted its earnings results on Wednesday, August 19th. The basic materials company reported $0.83 earnings per share (EPS) for the quarter. The company had revenue of $188.03 million during the quarter. On average, research analysts predict that DRDGOLD will post 3.12 EPS for the current year.

Insider Activity at DRDGOLD

In other DRDGOLD news, CEO Daniel Pretorius sold 35,537 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $2.75, for a total value of $97,726.75. Following the completion of the sale, the chief executive officer directly owned 999,816 shares in the company, valued at approximately $2,749,494. This trade represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jacobus Schoeman sold 19,403 shares of the firm's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $2.75, for a total value of $53,358.25. Following the completion of the sale, the chief operating officer directly owned 25,000 shares of the company's stock, valued at approximately $68,750. This represents a 43.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 139,080 shares of company stock worth $382,470 over the last ninety days. Corporate insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On DRDGOLD

A number of large investors have recently modified their holdings of the business. Amundi grew its position in DRDGOLD by 9.1% during the 1st quarter. Amundi now owns 507,710 shares of the basic materials company's stock worth $14,911,000 after purchasing an additional 42,342 shares during the last quarter. Renaissance Technologies LLC increased its stake in DRDGOLD by 58.3% during the 1st quarter. Renaissance Technologies LLC now owns 349,645 shares of the basic materials company's stock valued at $10,269,000 after purchasing an additional 128,832 shares in the last quarter. U S Global Investors Inc. increased its stake in DRDGOLD by 10.6% during the 1st quarter. U S Global Investors Inc. now owns 245,545 shares of the basic materials company's stock valued at $7,212,000 after purchasing an additional 23,512 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of DRDGOLD by 3.1% in the first quarter. Dimensional Fund Advisors LP now owns 169,473 shares of the basic materials company's stock worth $4,973,000 after buying an additional 5,019 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of DRDGOLD by 60.8% in the first quarter. Sei Investments Co. now owns 79,738 shares of the basic materials company's stock worth $2,342,000 after buying an additional 30,137 shares during the last quarter. Hedge funds and other institutional investors own 14.70% of the company's stock.

DRDGOLD Company Profile

DRDGOLD Limited is a South African gold producer focused on the retreatment of surface mine waste. Rather than operating conventional underground mines, the company processes gold-bearing tailings, sand dumps and slimes dams left by historical mining activities, recovering gold and reducing the environmental footprint of legacy mine waste.

DRDGOLD's principal operations are the Ergo and Far West Gold Recoveries (FWGR) businesses. Ergo processes surface material from areas around Johannesburg and the East Rand, while FWGR operates on the West Rand and Far West Rand.

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