DRDGOLD (NYSE:DRD) Earns Buy (B) Rating from Weiss Ratings

Key Points

• DRDGOLD's stock has been reaffirmed with a buy (B) rating by Weiss Ratings, while other analysts have varied opinions ranging from strong sell to buy.
• The stock currently has a pricing consensus of $36.25 and a market capitalization of $2.17 billion, reflecting its recent price performance with a 52-week high of $31.91.
• Institutional investors have shown increasing interest in DRDGOLD, with several acquiring new stakes, indicating a potential change in stock ownership dynamics.

DRDGOLD (NYSE:DRD - Get Free Report)'s stock had its "buy (b)" rating reaffirmed by analysts at Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

DRD has been the subject of a number of other reports. Wall Street Zen downgraded DRDGOLD from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. HC Wainwright raised their price target on DRDGOLD to $36.25 and gave the stock a "buy" rating in a research note on Friday, October 17th. Finally, Zacks Research downgraded DRDGOLD from a "strong-buy" rating to a "strong sell" rating in a research note on Monday, October 20th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $36.25.

DRDGOLD Price Performance

DRD opened at $25.14 on Friday. DRDGOLD has a fifty-two week low of $8.38 and a fifty-two week high of $31.91. The business has a 50-day moving average of $24.05 and a 200-day moving average of $17.86. The company has a market capitalization of $2.17 billion, a PE ratio of 19.95 and a beta of 0.36.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. acquired a new stake in DRDGOLD in the 2nd quarter valued at approximately $2,505,000. U S Global Investors Inc. acquired a new stake in DRDGOLD in the 1st quarter valued at approximately $2,150,000. Acadian Asset Management LLC acquired a new stake in DRDGOLD in the 1st quarter valued at approximately $2,055,000. Arrowstreet Capital Limited Partnership grew its holdings in DRDGOLD by 75.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 291,249 shares of the basic materials company's stock valued at $3,882,000 after buying an additional 124,831 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new stake in DRDGOLD in the 1st quarter valued at approximately $1,759,000. 14.70% of the stock is owned by institutional investors.

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.

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