DRDGOLD (NYSE:DRD) Stock Price Down 4.9% - Here's Why

DRDGOLD Limited (NYSE:DRD - Get Free Report)'s share price fell 4.9% during mid-day trading on Tuesday . The company traded as low as $13.11 and last traded at $13.40. 253,734 shares traded hands during trading, a decline of 29% from the average session volume of 356,242 shares. The stock had previously closed at $14.10.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered DRDGOLD from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 1st.

DRDGOLD Price Performance

The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 10.30 and a beta of 0.37. The firm's 50-day moving average price is $14.75 and its 200 day moving average price is $12.64.

Institutional Investors Weigh In On DRDGOLD

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its position in DRDGOLD by 72.9% during the fourth quarter. American Century Companies Inc. now owns 891,105 shares of the basic materials company's stock valued at $7,690,000 after buying an additional 375,705 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new stake in DRDGOLD during the 4th quarter valued at $1,449,000. U S Global Investors Inc. purchased a new position in DRDGOLD in the 1st quarter valued at about $2,150,000. Acadian Asset Management LLC acquired a new stake in shares of DRDGOLD during the first quarter valued at about $2,055,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of DRDGOLD during the fourth quarter worth about $1,045,000. 14.70% of the stock is currently owned by institutional investors and hedge funds.

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.