DRDGOLD (NYSE:DRD) Raised to "Strong-Buy" at Zacks Research

Key Points

• DRDGOLD (NYSE:DRD) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating, reflecting increasing investor confidence.
• The stock's price target has been raised from $16.25 to $18.75, with a current trading price of $18.58.
• Institutional investors have recently increased their positions in DRDGOLD, with significant investments from firms like Rockefeller Capital Management and U S Global Investors.

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

Other equities research analysts have also recently issued reports about the company. HC Wainwright lifted their price objective on DRDGOLD from $16.25 to $18.75 and gave the stock a "buy" rating in a report on Thursday, August 21st. Wall Street Zen cut DRDGOLD from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Strong Buy" and a consensus target price of $18.75.

DRDGOLD Trading Up 4.4%

DRD stock opened at $18.58 on Monday. DRDGOLD has a 12-month low of $7.64 and a 12-month high of $18.65. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 14.74 and a beta of 0.33. The business's 50-day moving average is $14.44 and its 200 day moving average is $14.19.

Institutional Trading of DRDGOLD

Several institutional investors have recently made changes to their positions in DRD. Rockefeller Capital Management L.P. purchased a new stake in shares of DRDGOLD during the 2nd quarter valued at approximately $2,505,000. U S Global Investors Inc. purchased a new stake in shares of DRDGOLD during the 1st quarter valued at approximately $2,150,000. Acadian Asset Management LLC purchased a new stake in shares of DRDGOLD during the 1st quarter valued at approximately $2,055,000. Arrowstreet Capital Limited Partnership raised its position in shares of DRDGOLD by 75.0% during 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 period. Finally, AQR Capital Management LLC purchased a new stake in shares of DRDGOLD during the 1st quarter valued at approximately $1,759,000. Hedge funds and other institutional investors 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.