DRDGOLD (NYSE:DRD) Shares Gap Up - Time to Buy?

Key Points

• DRDGOLD shares jumped 14.4%, opening at $27.15 versus a previous close of $24.30 and last trading near $27.38.
• Analyst sentiment is mixed: two analysts rate the stock Buy and one rates it Sell, resulting in a consensus Hold rating and a $35.00 target price.
• DRDGOLD reported quarterly EPS of $0.83 on revenue of $188.03 million, while institutional investors own 14.7% of the company.

DRDGOLD Limited (NYSE:DRD - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $24.30, but opened at $27.15. DRDGOLD shares last traded at $27.3760, with a volume of 128,529 shares.

Wall Street Analyst Weigh In

Several research analysts have commented on DRD shares. HC Wainwright reissued a "buy" rating and issued a $35.00 price objective on shares of DRDGOLD in a research report on Thursday, July 16th. Wall Street Zen cut DRDGOLD from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 4th. Zacks Research downgraded shares of DRDGOLD from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of DRDGOLD in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $35.00.

DRDGOLD Trading Up 14.4%

The business has a 50 day simple moving average of $22.06 and a two-hundred day simple moving average of $27.44.

DRDGOLD (NYSE:DRD - Get Free Report) last released its earnings results on Wednesday, August 19th. The basic materials company reported $0.83 EPS for the quarter. The business had revenue of $188.03 million for the quarter. Equities research analysts forecast that DRDGOLD Limited will post 2.71 earnings per share for the current year.

Institutional Investors Weigh In On DRDGOLD

Several hedge funds and other institutional investors have recently modified their holdings of DRD. Banque Cantonale Vaudoise acquired a new position in DRDGOLD in the fourth quarter worth about $42,000. Farther Finance Advisors LLC grew its position in shares of DRDGOLD by 33.5% in the 4th quarter. Farther Finance Advisors LLC now owns 2,256 shares of the basic materials company's stock worth $70,000 after acquiring an additional 566 shares in the last quarter. Osaic Holdings Inc. increased its holdings in shares of DRDGOLD by 11.5% in the 2nd quarter. Osaic Holdings Inc. now owns 6,892 shares of the basic materials company's stock valued at $92,000 after acquiring an additional 713 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of DRDGOLD during the 3rd quarter valued at approximately $102,000. Finally, Smartleaf Asset Management LLC acquired a new stake in shares of DRDGOLD during the fourth quarter worth $140,000. Institutional investors own 14.70% of the company's stock.

DRDGOLD Company Profile

DRDGOLD NYSE: DRD is a South African gold producer focused on the retreatment of surface tailings from historic mining operations on the Witwatersrand Basin. The company recovers fine gold particles from low‐grade tailings using an integrated, carbon‐in‐leach (CIL) processing circuit that is designed to maximize yield and minimize environmental impact. DRDGOLD's operations are centered on sustainable resource utilization, transforming previously discarded material into saleable gold doré bars.

The company operates two primary tailings retreatment facilities on the West Rand and East Rand of Gauteng Province.

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