DRDGOLD (NYSE:DRD) Sets New 12-Month High - Here's Why

DRDGOLD Limited (NYSE:DRD - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $15.75 and last traded at $15.67, with a volume of 641347 shares. The stock had previously closed at $15.37.

Analysts Set New Price Targets

A number of brokerages have recently commented on DRD. HC Wainwright reduced their target price on shares of DRDGOLD from $17.25 to $16.25 and set a "buy" rating for the company in a research report on Wednesday, February 19th. StockNews.com upgraded shares of DRDGOLD from a "hold" rating to a "buy" rating in a report on Friday, March 14th.

DRDGOLD Stock Up 1.1 %

The stock has a 50-day moving average of $12.45 and a 200 day moving average of $10.83. The stock has a market cap of $1.18 billion, a PE ratio of 10.84 and a beta of 0.88.

DRDGOLD Announces Dividend

The business also recently declared an annual dividend, which was paid on Thursday, March 27th. Stockholders of record on Friday, March 14th were issued a dividend of $0.1628 per share. The ex-dividend date was Friday, March 14th. This represents a dividend yield of 1.8%. DRDGOLD's dividend payout ratio is presently 19.05%.

Institutional Investors Weigh In On DRDGOLD

Hedge funds have recently modified their holdings of the company. Aquatic Capital Management LLC acquired a new position in DRDGOLD in the 4th quarter valued at about $25,000. GAMMA Investing LLC raised its position in shares of DRDGOLD by 53.0% during the 4th quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company's stock valued at $28,000 after buying an additional 1,122 shares during the period. QRG Capital Management Inc. acquired a new position in DRDGOLD in the fourth quarter valued at approximately $98,000. Squarepoint Ops LLC purchased a new position in DRDGOLD in the fourth quarter worth approximately $110,000. Finally, Virtu Financial LLC acquired a new stake in DRDGOLD during the third quarter worth $119,000. Hedge funds and other institutional investors own 14.70% of the company's stock.

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.