DRDGOLD (NYSE:DRD) Stock Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Shares of DRDGOLD crossed above its 200-day moving average (200‑day MA $30.74), trading as high as $31.67 on volume of 175,873 shares.
• Wall Street analysts show a mixed but overall bullish view with a consensus rating of “Moderate Buy” and an average target price of $46.50 (notable upgrades from HC Wainwright and Wall Street Zen, while Zacks cut to Hold).
• DRDGOLD recently paid a dividend of $0.3122 per share (ex-dividend Mar 13), which the article reports as a 207.0% yield.

Shares of DRDGOLD Limited (NYSE:DRD - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $30.74 and traded as high as $31.67. DRDGOLD shares last traded at $31.0330, with a volume of 175,873 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DRD shares. HC Wainwright upped their target price on DRDGOLD to $46.50 and gave the company a "buy" rating in a report on Friday, January 30th. Zacks Research lowered DRDGOLD from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 31st. Wall Street Zen raised DRDGOLD from a "buy" rating to a "strong-buy" rating in a report on Saturday, February 21st. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of DRDGOLD in a report on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $46.50.

DRDGOLD Trading Down 0.0%

The firm has a fifty day simple moving average of $32.31 and a two-hundred day simple moving average of $30.74.

DRDGOLD (NYSE:DRD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $6.74 earnings per share for the quarter. On average, equities research analysts predict that DRDGOLD Limited will post 1.06 EPS for the current year.

DRDGOLD Announces Dividend

The company also recently disclosed a dividend, which was paid on Monday, March 23rd. Shareholders of record on Friday, March 13th were issued a dividend of $0.3122 per share. This represents a yield of 207.0%. The ex-dividend date of this dividend was Friday, March 13th.

Hedge Funds Weigh In On DRDGOLD

Institutional investors and hedge funds have recently bought and sold shares of the company. Banque Cantonale Vaudoise bought a new position in shares of DRDGOLD in the fourth quarter worth $42,000. Farther Finance Advisors LLC boosted its holdings in shares of DRDGOLD by 88.2% in the third quarter. Farther Finance Advisors LLC now owns 1,690 shares of the basic materials company's stock worth $47,000 after acquiring an additional 792 shares during the period. BNP Paribas Financial Markets bought a new position in shares of DRDGOLD in the third quarter worth $102,000. Blue Trust Inc. boosted its holdings in shares of DRDGOLD by 21.8% in the fourth quarter. Blue Trust Inc. now owns 4,476 shares of the basic materials company's stock worth $139,000 after acquiring an additional 800 shares during the period. Finally, Smartleaf Asset Management LLC bought a new position in shares of DRDGOLD in the fourth quarter worth $140,000. 14.70% of the stock is owned by institutional investors.

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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