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

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 changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on DRD shares. HC Wainwright decreased their price target on DRDGOLD from $17.25 to $16.25 and set a "buy" rating on the stock in a research report on Wednesday, February 19th. Wall Street Zen cut shares of DRDGOLD from a "strong-buy" rating to a "buy" rating in a research note on Sunday.

DRDGOLD Price Performance

The stock has a market cap of $1.35 billion, a P/E ratio of 12.44 and a beta of 0.40. The firm's fifty day moving average price is $15.09 and its two-hundred day moving average price is $12.16.

Hedge Funds Weigh In On DRDGOLD

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise bought a new stake in shares of DRDGOLD during the 1st quarter valued at about $39,000. Aquatic Capital Management LLC purchased a new stake in DRDGOLD in the fourth quarter valued at approximately $25,000. Brooklyn Investment Group lifted its position in DRDGOLD by 769.7% during the first quarter. Brooklyn Investment Group now owns 4,105 shares of the basic materials company's stock valued at $64,000 after purchasing an additional 3,633 shares during the last quarter. GAMMA Investing LLC grew its stake in DRDGOLD by 52.9% in the 1st 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 in the last quarter. Finally, Synergy Asset Management LLC grew its stake in DRDGOLD by 18,615.5% in the 1st quarter. Synergy Asset Management LLC now owns 10,855 shares of the basic materials company's stock worth $168,000 after buying an additional 10,797 shares in the last quarter. 14.70% of the stock is currently owned by hedge funds and other 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.