DRDGOLD (NYSE:DRD) Shares Gap Down - Here's What Happened

Key Points

• Shares of DRDGOLD Limited (NYSE:DRD) gapped down from a previous close of $29.12 to an opening of $26.06, with the last trading price at $25.86 and a trading volume of 409,428 shares.
• Recent analyst ratings for DRDGOLD include a downgrade from "strong-buy" to "buy" by Wall Street Zen, while Zacks Research upgraded it to a "strong-buy" rating; the consensus price target is set at $36.25.
• The company declared a dividend of $0.2269, representing a yield of 202.0%, an increase from the previous annual dividend of $0.16, highlighting its solid financial position.

Shares of DRDGOLD Limited (NYSE:DRD - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $29.12, but opened at $26.06. DRDGOLD shares last traded at $25.86, with a volume of 409,428 shares traded.

Analyst Ratings Changes

A number of research analysts have recently commented on DRD shares. Wall Street Zen cut DRDGOLD from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. Zacks Research raised 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 report on Wednesday, October 8th. Finally, HC Wainwright increased their price target on shares of DRDGOLD to $36.25 and gave the stock a "buy" rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to data from MarketBeat, DRDGOLD presently has an average rating of "Buy" and a consensus target price of $36.25.

DRDGOLD Price Performance

The stock has a 50 day simple moving average of $23.22 and a 200-day simple moving average of $17.59. The firm has a market cap of $2.22 billion, a PE ratio of 20.48 and a beta of 0.36.

DRDGOLD Increases Dividend

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

Institutional Trading of DRDGOLD

A number of institutional investors and hedge funds have recently bought and sold shares of DRD. GAMMA Investing LLC raised its holdings in DRDGOLD by 52.9% in the first quarter. GAMMA Investing LLC now owns 4,953 shares of the basic materials company's stock worth $77,000 after buying an additional 1,713 shares during the last quarter. Synergy Asset Management LLC increased its position in shares of DRDGOLD by 18,615.5% during the first quarter. Synergy Asset Management LLC now owns 10,855 shares of the basic materials company's stock valued at $168,000 after acquiring an additional 10,797 shares in the last quarter. U S Global Investors Inc. purchased a new position in DRDGOLD in the 1st quarter worth approximately $2,150,000. D.A. Davidson & CO. purchased a new position in DRDGOLD in the 1st quarter worth approximately $350,000. Finally, Banque Cantonale Vaudoise bought a new position in DRDGOLD in the 1st quarter valued at approximately $39,000. 14.70% of the stock is currently owned by institutional investors.

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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