DRDGOLD (NYSE:DRD) Sets New 1-Year High - Time to Buy?

Key Points

• DRDGOLD's share price reached a new 52-week high of $29.89, marking a significant increase from its previous close of $28.63.
• The company announced a dividend increase to $0.2269 per share, up from $0.16, reflecting a dividend yield of 202.0%.
• Analyst ratings for DRDGOLD have mostly been positive, with a consensus rating of "Buy" and an average price target of $30.50.

DRDGOLD Limited (NYSE:DRD - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The company traded as high as $29.82 and last traded at $29.89, with a volume of 79941 shares trading hands. The stock had previously closed at $28.63.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wall Street Zen downgraded DRDGOLD from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. Zacks Research upgraded shares of DRDGOLD from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 25th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of DRDGOLD in a research note on Saturday, September 27th. Finally, HC Wainwright lifted their price objective on shares of DRDGOLD from $18.75 to $30.50 and gave the stock a "buy" rating in a research note on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $30.50.

DRDGOLD Stock Performance

The company has a market cap of $2.60 billion, a PE ratio of 23.82 and a beta of 0.36. The company has a fifty day moving average of $19.98 and a two-hundred day moving average of $16.46.

DRDGOLD Increases Dividend

The company also recently announced an annual dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 12th were issued a $0.2269 dividend. This is a boost from DRDGOLD's previous annual dividend of $0.16. The ex-dividend date was Friday, September 12th. This represents a dividend yield of 202.0%. DRDGOLD's dividend payout ratio (DPR) is 28.57%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DRD. D.A. Davidson & CO. purchased a new position in DRDGOLD during the 1st quarter valued at $350,000. Ameriprise Financial Inc. grew its holdings in shares of DRDGOLD by 10.0% in the fourth quarter. Ameriprise Financial Inc. now owns 15,779 shares of the basic materials company's stock valued at $136,000 after purchasing an additional 1,438 shares during the period. GAMMA Investing LLC grew its holdings in shares of DRDGOLD by 52.9% in 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. Acadian Asset Management LLC acquired a new position in DRDGOLD in the first quarter valued at $2,055,000. Finally, Millennium Management LLC grew its position in shares of DRDGOLD by 61.7% during the fourth quarter. Millennium Management LLC now owns 53,669 shares of the basic materials company's stock worth $463,000 after acquiring an additional 20,475 shares during the last quarter. 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.

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