DRDGOLD (NYSE:DRD) Cut to "Strong Sell" at Zacks Research

Key Points

• DRDGOLD has been downgraded from a "strong-buy" rating to a "strong sell" rating by Zacks Research, indicating a significant change in analysts' sentiment towards the company's stock.
• Despite the downgrade, some analysts like HC Wainwright and Weiss Ratings have maintained a "buy" rating, with HC Wainwright increasing the price target to $36.25.
• The stock currently trades at approximately $25.87, with a market capitalization of $2.24 billion and a consensus rating of "Hold".

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

Other equities analysts have also issued research reports about the company. Wall Street Zen lowered DRDGOLD from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. HC Wainwright upped their price target on DRDGOLD to $36.25 and gave the company a "buy" rating in a research note on Friday. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of DRDGOLD in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, DRDGOLD presently has a consensus rating of "Hold" and a consensus price target of $36.25.

DRDGOLD Stock Performance

NYSE DRD opened at $25.87 on Monday. The stock's fifty day moving average is $23.43 and its two-hundred day moving average is $17.65. The firm has a market capitalization of $2.24 billion, a P/E ratio of 20.53 and a beta of 0.36. DRDGOLD has a fifty-two week low of $8.38 and a fifty-two week high of $31.91.

Hedge Funds Weigh In On DRDGOLD

Hedge funds have recently bought and sold shares of the company. Banque Cantonale Vaudoise acquired a new position in DRDGOLD during the 1st quarter worth about $39,000. Farther Finance Advisors LLC lifted its stake in DRDGOLD by 88.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,690 shares of the basic materials company's stock worth $47,000 after acquiring an additional 792 shares in the last quarter. Brooklyn Investment Group lifted its stake in DRDGOLD by 769.7% during the 1st quarter. Brooklyn Investment Group now owns 4,105 shares of the basic materials company's stock worth $64,000 after acquiring an additional 3,633 shares in the last quarter. GAMMA Investing LLC lifted its stake in DRDGOLD by 52.9% during the 1st quarter. GAMMA Investing LLC now owns 4,953 shares of the basic materials company's stock worth $77,000 after acquiring an additional 1,713 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its stake in DRDGOLD by 11.5% during the 2nd quarter. Osaic Holdings Inc. now owns 6,892 shares of the basic materials company's stock worth $92,000 after acquiring an additional 713 shares in the last quarter. Institutional investors and hedge funds own 14.70% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.