DRDGOLD (NYSE:DRD) Reaches New 12-Month High - What's Next?

Key Points

• DRDGOLD Limited has reached a new 52-week high of $30.55 during trading, with analysts maintaining a consensus rating of "Buy" and an average target price of $30.50.
• The company recently increased its annual dividend to $0.2269 per share, significantly up from the previous $0.16, resulting in a dividend yield of 202.0%.
• Institutional investors have shown increased interest in DRDGOLD, with several firms boosting their holdings, including Bank of America which increased its investment by 138%.

DRDGOLD Limited (NYSE:DRD - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $30.55 and last traded at $29.56, with a volume of 219507 shares traded. The stock had previously closed at $28.76.

Wall Street Analysts Forecast Growth

DRD has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of DRDGOLD in a research report on Wednesday, October 8th. HC Wainwright boosted their price objective on DRDGOLD from $18.75 to $30.50 and gave the company a "buy" rating in a research report on Tuesday, September 23rd. Zacks Research upgraded DRDGOLD from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 25th. Finally, Wall Street Zen cut DRDGOLD from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 17th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $30.50.

DRDGOLD Stock Up 1.5%

The firm has a fifty day moving average price of $21.52 and a 200 day moving average price of $16.98. The company has a market cap of $2.52 billion, a P/E ratio of 23.20 and a beta of 0.36.

DRDGOLD Increases Dividend

The firm also recently announced an annual dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 12th were issued a dividend of $0.2269 per share. The ex-dividend date was Friday, September 12th. This is a boost from DRDGOLD's previous annual dividend of $0.16. This represents a dividend yield of 202.0%. DRDGOLD's dividend payout ratio (DPR) is currently 29.37%.

Institutional Trading of DRDGOLD

Several large investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its holdings in shares of DRDGOLD by 26.3% during the third quarter. GAMMA Investing LLC now owns 8,113 shares of the basic materials company's stock worth $224,000 after purchasing an additional 1,691 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in DRDGOLD by 11.5% in the second quarter. Osaic Holdings Inc. now owns 6,892 shares of the basic materials company's stock valued at $92,000 after acquiring an additional 713 shares during the last quarter. Orion Porfolio Solutions LLC bought a new position in DRDGOLD in the second quarter valued at about $274,000. Bank of America Corp DE boosted its holdings in DRDGOLD by 138.0% in the second quarter. Bank of America Corp DE now owns 42,846 shares of the basic materials company's stock valued at $571,000 after acquiring an additional 24,845 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in DRDGOLD by 174.4% in the second quarter. Jane Street Group LLC now owns 124,255 shares of the basic materials company's stock valued at $1,656,000 after acquiring an additional 78,978 shares during the last quarter. 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.

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