DRDGOLD Limited $DRD Position Decreased by PKO Investment Management Joint Stock Co

Key Points

• PKO Investment Management Joint Stock Co reduced its holdings in DRDGOLD Limited by 43.3%, selling 22,000 shares and leaving it with a total of 28,814 shares, valued at $384,000.
• DRDGOLD's recent annual dividend was increased to $0.2269 per share, representing a dividend yield of 202.0%, with a payout ratio of 29.37%.
• Analyst ratings have varied, with Weiss Ratings maintaining a "buy" rating while Zacks Research downgraded DRDGOLD to a "strong sell"; the company's average target price is $36.25.

PKO Investment Management Joint Stock Co reduced its holdings in DRDGOLD Limited (NYSE:DRD - Free Report) by 43.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,814 shares of the basic materials company's stock after selling 22,000 shares during the quarter. PKO Investment Management Joint Stock Co's holdings in DRDGOLD were worth $384,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in DRDGOLD by 29.7% in the second quarter. GAMMA Investing LLC now owns 6,422 shares of the basic materials company's stock worth $86,000 after buying an additional 1,469 shares during the last quarter. Rathbones Group PLC boosted its stake in shares of DRDGOLD by 15.7% during the 1st quarter. Rathbones Group PLC now owns 16,575 shares of the basic materials company's stock worth $256,000 after acquiring an additional 2,250 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of DRDGOLD in the 1st quarter worth $39,000. Brooklyn Investment Group raised its position in shares of DRDGOLD by 769.7% during the first quarter. Brooklyn Investment Group now owns 4,105 shares of the basic materials company's stock worth $64,000 after purchasing an additional 3,633 shares during the period. Finally, Kiker Wealth Management LLC purchased a new stake in shares of DRDGOLD during the second quarter valued at $142,000. 14.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DRD has been the topic of a number of analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of DRDGOLD in a research note on Friday. Zacks Research cut shares of DRDGOLD from a "strong-buy" rating to a "strong sell" rating in a report on Monday, October 20th. HC Wainwright boosted their price target on shares of DRDGOLD to $36.25 and gave the company a "buy" rating in a report on Friday, October 17th. Finally, Wall Street Zen downgraded shares of DRDGOLD from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 17th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, DRDGOLD presently has an average rating of "Hold" and an average target price of $36.25.

DRDGOLD Trading Down 1.8%

Shares of NYSE DRD opened at $25.14 on Friday. DRDGOLD Limited has a one year low of $8.38 and a one year high of $31.91. The business has a 50-day moving average price of $24.05 and a two-hundred day moving average price of $17.89. The firm has a market capitalization of $2.17 billion, a PE ratio of 19.95 and a beta of 0.36.

DRDGOLD Increases Dividend

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

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.

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