DRDGOLD (NYSE:DRD) Shares Gap Up - Still a Buy?

Key Points

• DRDGOLD's shares experienced a gap up before market opening, rising from a previous close of $13.34 to an opening price of $14.01 and then trading at $13.87.
• Analysts at Wall Street Zen downgraded DRDGOLD from a "strong-buy" to a "buy" rating on July 12th.
• Hedge funds have recently increased their positions in DRDGOLD, with Brooklyn Investment Group boosting its holdings by 769.7% in the first quarter.

DRDGOLD Limited (NYSE:DRD - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $13.34, but opened at $14.01. DRDGOLD shares last traded at $13.87, with a volume of 79,080 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered DRDGOLD from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th.

DRDGOLD Price Performance

The stock's 50 day moving average is $14.12 and its two-hundred day moving average is $13.60. The stock has a market capitalization of $1.36 billion, a PE ratio of 12.47 and a beta of 0.33.

Institutional Investors Weigh In On DRDGOLD

A number of hedge funds and other institutional investors have recently modified their holdings of DRD. Banque Cantonale Vaudoise purchased a new position in DRDGOLD in the first quarter valued at $39,000. Aquatic Capital Management LLC acquired a new position in shares of DRDGOLD during the 4th quarter worth about $25,000. Brooklyn Investment Group boosted its position in shares of 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 increased its holdings in shares of DRDGOLD by 52.9% in the 1st quarter. GAMMA Investing LLC now owns 4,953 shares of the basic materials company's stock valued at $77,000 after acquiring an additional 1,713 shares during the last quarter. Finally, Kiker Wealth Management LLC acquired a new stake in shares of DRDGOLD during the 2nd quarter worth about $142,000. 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.