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

Key Points

• DRDGOLD Limited shares saw a gap up prior to trading, opening at $26.83, compared to the previous closing price of $26.26.
• Analysts have made significant changes to their ratings for DRDGOLD, with Zacks declaring it a "strong-buy" and HC Wainwright increasing the target price to $30.50.
• The company recently increased its annual dividend to $0.2269 per share, representing a substantial 202.0% yield, a positive change from a previous dividend of $0.16.

DRDGOLD Limited (NYSE:DRD - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $26.26, but opened at $26.83. DRDGOLD shares last traded at $26.73, with a volume of 178,550 shares trading hands.

Analyst Ratings Changes

DRD has been the topic of several recent analyst reports. Zacks Research raised shares of DRDGOLD from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 25th. HC Wainwright increased their target price on shares of DRDGOLD from $18.75 to $30.50 and gave the company a "buy" rating in a research note on Tuesday. Finally, Wall Street Zen downgraded shares of DRDGOLD from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Strong Buy" and an average price target of $30.50.

DRDGOLD Trading Up 0.2%

The company's 50 day moving average is $18.09 and its 200 day moving average is $15.76. The company has a market cap of $2.28 billion, a PE ratio of 20.90 and a beta of 0.36.

DRDGOLD Increases Dividend

The firm also recently announced an annual dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 12th were issued a dividend of $0.2269 per share. 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 currently 29.37%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DRD. Banque Cantonale Vaudoise bought a new position in DRDGOLD during the 1st quarter worth about $39,000. Brooklyn Investment Group grew its holdings in DRDGOLD by 769.7% during the 1st quarter. Brooklyn Investment Group now owns 4,105 shares of the basic materials company's stock worth $64,000 after acquiring an additional 3,633 shares in the last quarter. GAMMA Investing LLC grew its holdings in DRDGOLD by 52.9% during the 1st quarter. GAMMA Investing LLC now owns 4,953 shares of the basic materials company's stock worth $77,000 after acquiring an additional 1,713 shares in the last quarter. Osaic Holdings Inc. grew its holdings in DRDGOLD by 11.5% during the 2nd quarter. Osaic Holdings Inc. now owns 6,892 shares of the basic materials company's stock worth $92,000 after acquiring an additional 713 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in DRDGOLD during the 4th quarter worth about $110,000. 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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