133,088 Shares in DRDGOLD Limited $DRD Purchased by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC has acquired a new position in DRDGOLD Limited, purchasing approximately 133,088 shares valued at around $2.06 million, representing about 0.15% of the company's stock as per the latest SEC filing.
• DRDGOLD recently declared an annual dividend of $0.2269 per share, which is an increase from the prior amount of $0.16, reflecting a yield of 202.0% with a payout ratio of 28.57%.
• Wall Street analysts have varying outlooks on DRDGOLD, with Zacks upgrading its rating to strong-buy and HC Wainwright raising the price target from $16.25 to $18.75, indicating a positive trend in investor sentiment.

Acadian Asset Management LLC bought a new stake in DRDGOLD Limited (NYSE:DRD - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 133,088 shares of the basic materials company's stock, valued at approximately $2,055,000. Acadian Asset Management LLC owned about 0.15% of DRDGOLD at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Banque Cantonale Vaudoise purchased a new stake in shares of DRDGOLD in the first quarter valued at approximately $39,000. Brooklyn Investment Group raised its holdings in shares of DRDGOLD by 769.7% in the first quarter. Brooklyn Investment Group now owns 4,105 shares of the basic materials company's stock worth $64,000 after acquiring an additional 3,633 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of DRDGOLD by 52.9% in the first quarter. GAMMA Investing LLC now owns 4,953 shares of the basic materials company's stock worth $77,000 after acquiring an additional 1,713 shares during the last quarter. Squarepoint Ops LLC acquired a new position in DRDGOLD in the fourth quarter valued at $110,000. Finally, Ameriprise Financial Inc. increased its stake in DRDGOLD by 10.0% in the fourth 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 during the last quarter. 14.70% of the stock is currently owned by hedge funds and other institutional investors.

DRDGOLD Price Performance

Shares of NYSE DRD traded up $1.25 during midday trading on Friday, hitting $25.65. The stock had a trading volume of 5,199,593 shares, compared to its average volume of 847,268. DRDGOLD Limited has a fifty-two week low of $8.38 and a fifty-two week high of $26.11. The company's 50-day simple moving average is $17.30 and its 200 day simple moving average is $15.47. The firm has a market cap of $2.22 billion, a P/E ratio of 20.36 and a beta of 0.36.

DRDGOLD Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 12th will be paid a dividend of $0.2269 per share. This represents a dividend yield of 202.0%. This is a boost from DRDGOLD's previous annual dividend of $0.16. The ex-dividend date of this dividend is Friday, September 12th. DRDGOLD's payout ratio is presently 29.37%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DRD shares. HC Wainwright upped their target price on DRDGOLD from $16.25 to $18.75 and gave the stock a "buy" rating in a research report on Thursday, August 21st. Zacks Research upgraded DRDGOLD from a "hold" rating to a "strong-buy" rating in a report on Monday, August 25th. Finally, Wall Street Zen downgraded DRDGOLD from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. According to MarketBeat.com, DRDGOLD has a consensus rating of "Strong Buy" and a consensus price target of $18.75.

DRDGOLD 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.