DRDGOLD (NYSE:DRD) Downgraded to "Hold" Rating by Zacks Research

Key Points

• Zacks Research downgraded DRDGOLD from a "strong-buy" to a "hold" rating in a report issued Tuesday.
• Despite the downgrade, the analyst consensus remains a Moderate Buy with a consensus target price of $46.50 (two Buys, one Hold), and HC Wainwright recently reiterated a Buy and raised its target to $46.50.
• Shares opened at $30.82, up about 4.9% and trading in a 12‑month range of $12.75–$39.37; the company reported quarterly EPS of $6.74 while sell‑side analysts forecast 1.06 EPS for the current year.

DRDGOLD (NYSE:DRD - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Tuesday,Zacks.com reports.

DRD has been the topic of several other reports. Wall Street Zen raised DRDGOLD from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 21st. Weiss Ratings restated a "buy (b)" rating on shares of DRDGOLD in a research report on Wednesday, January 21st. Finally, HC Wainwright upped their price target on shares of DRDGOLD to $46.50 and gave the stock a "buy" rating in a report on Friday, January 30th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, DRDGOLD has a consensus rating of "Moderate Buy" and a consensus target price of $46.50.

DRDGOLD Stock Up 4.9%

DRD opened at $30.82 on Tuesday. DRDGOLD has a twelve month low of $12.75 and a twelve month high of $39.37. The company has a 50-day simple moving average of $33.12 and a 200 day simple moving average of $30.51.

DRDGOLD (NYSE:DRD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $6.74 earnings per share (EPS) for the quarter. Sell-side analysts anticipate that DRDGOLD will post 1.06 EPS for the current year.

Hedge Funds Weigh In On DRDGOLD

Several large investors have recently modified their holdings of DRD. Cim LLC acquired a new position in shares of DRDGOLD during the fourth quarter worth $551,000. XTX Topco Ltd acquired a new position in DRDGOLD during the 4th quarter worth about $475,000. Quadrature Capital Ltd acquired a new stake in shares of DRDGOLD in the fourth quarter valued at about $308,000. OLD Mission Capital LLC increased its position in DRDGOLD by 104.9% during the 4th quarter. OLD Mission Capital LLC now owns 25,743 shares of the basic materials company's stock valued at $798,000 after purchasing an additional 13,178 shares during the period. Finally, AQR Capital Management LLC raised its holdings in DRDGOLD by 265.4% during the 4th quarter. AQR Capital Management LLC now owns 314,679 shares of the basic materials company's stock worth $9,758,000 after purchasing an additional 228,561 shares during the last quarter. Institutional investors own 14.70% of the company's stock.

About DRDGOLD

DRDGOLD NYSE: DRD is a South African gold producer focused on the retreatment of surface tailings from historic mining operations on the Witwatersrand Basin. The company recovers fine gold particles from low‐grade tailings using an integrated, carbon‐in‐leach (CIL) processing circuit that is designed to maximize yield and minimize environmental impact. DRDGOLD's operations are centered on sustainable resource utilization, transforming previously discarded material into saleable gold doré bars.

The company operates two primary tailings retreatment facilities on the West Rand and East Rand of Gauteng Province.

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