Acadian Asset Management LLC Makes New Investment in DRDGOLD Limited $DRD

Acadian Asset Management LLC bought a new position in DRDGOLD Limited (NYSE:DRD - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 133,088 shares of the basic materials company's stock, valued at approximately $2,055,000. Acadian Asset Management LLC owned approximately 0.15% of DRDGOLD as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. D.A. Davidson & CO. purchased a new stake in DRDGOLD in the 1st quarter worth approximately $350,000. Ameriprise Financial Inc. raised its holdings in shares of DRDGOLD by 10.0% during the 4th quarter. Ameriprise Financial Inc. now owns 15,779 shares of the basic materials company's stock valued at $136,000 after purchasing an additional 1,438 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of DRDGOLD by 52.9% during the 1st quarter. GAMMA Investing LLC now owns 4,953 shares of the basic materials company's stock valued at $77,000 after purchasing an additional 1,713 shares in the last quarter. Millennium Management LLC raised its holdings in shares of DRDGOLD by 61.7% during the 4th quarter. Millennium Management LLC now owns 53,669 shares of the basic materials company's stock valued at $463,000 after purchasing an additional 20,475 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of DRDGOLD during the 4th quarter valued at $110,000. Hedge funds and other institutional investors own 14.70% of the company's stock.

DRDGOLD Trading Up 0.4%

NYSE:DRD opened at $23.40 on Wednesday. DRDGOLD Limited has a 1 year low of $8.38 and a 1 year high of $23.66. The firm's fifty day simple moving average is $16.63 and its 200 day simple moving average is $15.23. The firm has a market capitalization of $2.02 billion, a PE ratio of 18.57 and a beta of 0.36.

DRDGOLD Increases Dividend

The business also recently declared an annual dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 12th will be given a $0.2269 dividend. The ex-dividend date is Friday, September 12th. This represents a yield of 202.0%. This is a positive change from DRDGOLD's previous annual dividend of $0.16. DRDGOLD's dividend payout ratio (DPR) is 28.57%.

Wall Street Analysts Forecast Growth

DRD has been the topic of a number of recent research reports. Wall Street Zen downgraded shares of DRDGOLD from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. HC Wainwright raised their price target on shares of DRDGOLD from $16.25 to $18.75 and gave the company a "buy" rating in a report on Thursday, August 21st. Finally, Zacks Research upgraded shares of DRDGOLD from a "hold" rating to a "strong-buy" rating in a report on Monday, August 25th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Strong Buy" and a consensus target price of $18.75.

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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