DRDGOLD Limited (NYSE:DRD) Sees Significant Drop in Short Interest

DRDGOLD Limited (NYSE:DRD - Get Free Report) was the recipient of a significant drop in short interest in May. As of May 15th, there was short interest totalling 1,010,000 shares, a drop of 12.9% from the April 30th total of 1,160,000 shares. Currently, 1.2% of the shares of the stock are sold short. Based on an average daily volume of 517,300 shares, the days-to-cover ratio is presently 2.0 days.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wall Street Zen cut shares of DRDGOLD from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 1st. HC Wainwright cut their price objective on DRDGOLD from $17.25 to $16.25 and set a "buy" rating on the stock in a research report on Wednesday, February 19th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aquatic Capital Management LLC bought a new position in DRDGOLD in the fourth quarter worth about $25,000. Banque Cantonale Vaudoise purchased a new position in DRDGOLD during the 1st quarter worth approximately $39,000. Brooklyn Investment Group raised its holdings in shares of DRDGOLD by 769.7% during the first quarter. Brooklyn Investment Group now owns 4,105 shares of the basic materials company's stock worth $64,000 after purchasing an additional 3,633 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of DRDGOLD by 52.9% in the 1st quarter. GAMMA Investing LLC now owns 4,953 shares of the basic materials company's stock valued at $77,000 after buying an additional 1,713 shares during the period. Finally, QRG Capital Management Inc. acquired a new position in DRDGOLD in the fourth quarter valued at approximately $98,000. 14.70% of the stock is currently owned by institutional investors.

DRDGOLD Price Performance

Shares of DRD stock traded down $1.74 during mid-day trading on Friday, hitting $13.75. The stock had a trading volume of 803,622 shares, compared to its average volume of 347,548. The firm's 50-day moving average is $15.09 and its two-hundred day moving average is $12.19. The firm has a market capitalization of $1.19 billion, a P/E ratio of 10.91 and a beta of 0.37. DRDGOLD has a 12-month low of $7.64 and a 12-month high of $17.60.

DRDGOLD Company Profile

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.