DRDGOLD (NYSE:DRD) Hits New 1-Year High - Should You Buy?

Key Points

• DRDGOLD Limited has reached a new 52-week high, trading at $21.66, with significant volume of 578,834 shares.
• The company announced an increase in its annual dividend to $0.2269 per share, reflecting a high yield of 170.0% and a payout ratio of 28.57%.
• Various analysts have issued mixed ratings on DRDGOLD, with an average rating of "Strong Buy" and a consensus price target raised to $18.75.

DRDGOLD Limited (NYSE:DRD - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as $21.66 and last traded at $21.54, with a volume of 578834 shares traded. The stock had previously closed at $21.22.

Analysts Set New Price Targets

DRD has been the topic of several analyst reports. Wall Street Zen downgraded shares of DRDGOLD from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 17th. Zacks Research raised DRDGOLD from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 25th. Finally, HC Wainwright lifted their target price on DRDGOLD from $16.25 to $18.75 and gave the stock a "buy" rating in a research report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Strong Buy" and an average price target of $18.75.

DRDGOLD Stock Performance

The business has a fifty day simple moving average of $16.24 and a two-hundred day simple moving average of $15.06.

DRDGOLD Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 12th will be issued a dividend of $0.2269 per share. The ex-dividend date of this dividend is Friday, September 12th. This is a positive change from DRDGOLD's previous annual dividend of $0.16. This represents a yield of 202.0%. DRDGOLD's dividend payout ratio (DPR) is presently 19.84%.

Institutional Investors Weigh In On DRDGOLD

Institutional investors have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise acquired a new stake in DRDGOLD during the first quarter valued at approximately $39,000. Brooklyn Investment Group boosted its holdings in DRDGOLD by 769.7% during the first quarter. Brooklyn Investment Group now owns 4,105 shares of the basic materials company's stock valued at $64,000 after purchasing an additional 3,633 shares in the last quarter. GAMMA Investing LLC boosted its holdings in DRDGOLD by 52.9% during the first quarter. GAMMA Investing LLC now owns 4,953 shares of the basic materials company's stock valued at $77,000 after purchasing an additional 1,713 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in DRDGOLD by 11.5% during the second quarter. Osaic Holdings Inc. now owns 6,892 shares of the basic materials company's stock valued at $92,000 after purchasing an additional 713 shares in the last quarter. Finally, Kiker Wealth Management LLC acquired a new position in shares of DRDGOLD in the 2nd quarter worth approximately $142,000. 14.70% of the stock is owned by institutional investors and hedge funds.

About DRDGOLD

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.