DRDGOLD (NYSE:DRD) Shares Gap Down - Should You Sell?

Shares of DRDGOLD Limited (NYSE:DRD - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $16.20, but opened at $15.86. DRDGOLD shares last traded at $15.87, with a volume of 124,344 shares.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on DRD shares. Wall Street Zen lowered shares of DRDGOLD from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 1st. HC Wainwright dropped 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.

DRDGOLD Stock Performance

The company has a market cap of $1.19 billion, a P/E ratio of 10.89 and a beta of 0.37. The business has a fifty day simple moving average of $15.09 and a 200 day simple moving average of $12.19.

Institutional Trading of DRDGOLD

A number of institutional investors and hedge funds have recently modified their holdings of DRD. ABC Arbitrage SA bought a new stake in shares of DRDGOLD during the 4th quarter valued at about $1,140,000. QRG Capital Management Inc. acquired a new position in DRDGOLD in the fourth quarter valued at approximately $98,000. Ashton Thomas Private Wealth LLC bought a new position in shares of DRDGOLD during the fourth quarter valued at approximately $1,045,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of DRDGOLD by 15.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 502,100 shares of the basic materials company's stock valued at $4,333,000 after purchasing an additional 66,857 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of DRDGOLD by 72.9% during the 4th quarter. American Century Companies Inc. now owns 891,105 shares of the basic materials company's stock worth $7,690,000 after purchasing an additional 375,705 shares during the period. 14.70% of the stock is 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.