DRDGOLD's (DRD) Buy (B) Rating Reiterated at Weiss Ratings

Key Points

• DRDGOLD's stock received a "buy (b)" rating reaffirmed by Weiss Ratings, while other analysts noted a mix of ratings including a "strong-buy" from Zacks Research and a lowered rating from Wall Street Zen.
• The stock currently has a market capitalization of $2.58 billion and is trading at approximately $29.86, with a consensus price target of $30.50.
• Recent hedge fund activities show significant increases in positions, with one fund increasing its stake by 2,264.9% and another by 18,615.5% in the latest quarter.

DRDGOLD (NYSE:DRD - Get Free Report)'s stock had its "buy (b)" rating reissued by Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other analysts have also commented on DRD. Wall Street Zen lowered DRDGOLD from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. HC Wainwright increased their price objective on DRDGOLD from $18.75 to $30.50 and gave the company a "buy" rating in a report on Tuesday, September 23rd. Finally, Zacks Research upgraded DRDGOLD from a "hold" rating to a "strong-buy" rating in a report on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. According to MarketBeat, DRDGOLD currently has a consensus rating of "Buy" and a consensus price target of $30.50.

DRDGOLD Stock Performance

NYSE:DRD traded up $1.09 during trading hours on Wednesday, reaching $29.86. The company's stock had a trading volume of 826,968 shares, compared to its average volume of 1,151,607. The company has a market capitalization of $2.58 billion, a P/E ratio of 23.70 and a beta of 0.36. DRDGOLD has a 12 month low of $8.38 and a 12 month high of $30.36. The stock has a 50 day moving average price of $20.93 and a two-hundred day moving average price of $16.74.

Hedge Funds Weigh In On DRDGOLD

Several hedge funds have recently made changes to their positions in DRD. Bank of America Corp DE increased its position in shares of DRDGOLD by 47.2% in the 4th quarter. Bank of America Corp DE now owns 16,732 shares of the basic materials company's stock valued at $144,000 after acquiring an additional 5,364 shares during the period. GAMMA Investing LLC increased its position in shares of DRDGOLD by 2,264.9% in the 1st quarter. GAMMA Investing LLC now owns 76,623 shares of the basic materials company's stock valued at $1,185,000 after acquiring an additional 73,383 shares during the period. Synergy Asset Management LLC increased its position in shares of DRDGOLD by 18,615.5% in the 1st quarter. Synergy Asset Management LLC now owns 10,855 shares of the basic materials company's stock valued at $168,000 after acquiring an additional 10,797 shares during the period. U S Global Investors Inc. acquired a new stake in DRDGOLD during the 1st quarter worth about $2,150,000. Finally, D.A. Davidson & CO. acquired a new stake in DRDGOLD during the 1st quarter worth about $350,000. 14.70% of the stock is 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.

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