DRDGOLD (NYSE:DRD) Shares Down 7.7% - Time to Sell?

Shares of DRDGOLD Limited (NYSE:DRD - Get Free Report) fell 7.7% during mid-day trading on Friday . The company traded as low as $14.43 and last traded at $14.29. 282,085 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 421,523 shares. The stock had previously closed at $15.48.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DRD. HC Wainwright dropped their price target on DRDGOLD from $17.25 to $16.25 and set a "buy" rating on the stock in a research note on Wednesday, February 19th. Wall Street Zen cut DRDGOLD from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 1st.

DRDGOLD Stock Performance

The stock has a fifty day moving average of $15.06 and a 200 day moving average of $12.22. The company has a market capitalization of $1.19 billion, a P/E ratio of 10.89 and a beta of 0.37.

Hedge Funds Weigh In On DRDGOLD

A number of institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. raised its holdings in DRDGOLD by 5.7% in the 1st quarter. American Century Companies Inc. now owns 941,915 shares of the basic materials company's stock worth $14,571,000 after purchasing an additional 50,810 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in DRDGOLD by 2.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 514,199 shares of the basic materials company's stock worth $7,955,000 after purchasing an additional 12,099 shares during the period. Invesco Ltd. raised its holdings in DRDGOLD by 8.1% during the fourth quarter. Invesco Ltd. now owns 266,360 shares of the basic materials company's stock valued at $2,299,000 after acquiring an additional 20,000 shares during the period. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. bought a new stake in DRDGOLD during the fourth quarter valued at about $1,449,000. Finally, U S Global Investors Inc. bought a new stake in DRDGOLD during the first quarter valued at about $2,150,000. 14.70% of the stock is 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.