DRDGOLD (NYSE:DRD) Upgraded to Strong-Buy at Zacks Research

Key Points

• DRDGOLD (NYSE:DRD) was upgraded by Zacks Research from "hold" to "strong-buy", joining recent buy/strong-buy calls from HC Wainwright, Wall Street Zen and Weiss and leaving the stock with a consensus rating of "Buy" and a consensus price target of $46.50.
• Shares opened at $27.16 (12‑month range $12.75–$39.37) after the company reported quarterly EPS of $6.74 and analysts forecast FY EPS of 14.22, while institutional ownership is about 14.7% amid several recent modest inflows.

DRDGOLD (NYSE:DRD - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Wednesday,Zacks.com reports.

Several other brokerages have also recently issued reports on DRD. HC Wainwright boosted their price target on DRDGOLD to $46.50 and gave the company a "buy" rating in a research note on Friday, January 30th. Wall Street Zen upgraded DRDGOLD from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 21st. Finally, Weiss Ratings restated a "buy (b)" rating on shares of DRDGOLD in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $46.50.

DRDGOLD Stock Up 1.7%

DRDGOLD stock opened at $27.16 on Wednesday. DRDGOLD has a 12 month low of $12.75 and a 12 month high of $39.37. The stock's 50 day moving average is $31.14 and its 200-day moving average is $30.93.

DRDGOLD (NYSE:DRD - Get Free Report) last posted its earnings results on Wednesday, February 18th. The basic materials company reported $6.74 EPS for the quarter. Research analysts predict that DRDGOLD will post 14.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Banque Cantonale Vaudoise bought a new position in DRDGOLD during the 4th quarter worth $42,000. Farther Finance Advisors LLC raised its position in DRDGOLD by 88.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,690 shares of the basic materials company's stock worth $47,000 after purchasing an additional 792 shares during the last quarter. Osaic Holdings Inc. raised its position 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 purchasing an additional 713 shares during the last quarter. BNP Paribas Financial Markets bought a new position in DRDGOLD during the 3rd quarter worth $102,000. Finally, Blue Trust Inc. raised its position in DRDGOLD by 21.8% during the 4th quarter. Blue Trust Inc. now owns 4,476 shares of the basic materials company's stock worth $139,000 after purchasing an additional 800 shares during the last quarter. 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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