DRDGOLD Limited $DRD Shares Sold by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital cut its DRDGOLD stake by 34.6% in the first quarter, selling 363,029 shares and retaining 686,623 shares worth approximately $20.2 million. Institutional investors and hedge funds collectively own 14.7% of the company.
• Analyst sentiment remains positive but has softened, with recent downgrades from “strong buy” to “buy” or “hold.” DRDGOLD has a consensus “Moderate Buy” rating and an average price target of $35.00.
• DRDGOLD shares were reported to be up 3.5%, opening at $20.87, compared with a 52-week range of $13.25 to $39.37; the company produces gold by retreating historical mining tailings in South Africa.

Arrowstreet Capital Limited Partnership trimmed its stake in DRDGOLD Limited (NYSE:DRD - Free Report) by 34.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 686,623 shares of the basic materials company's stock after selling 363,029 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.79% of DRDGOLD worth $20,166,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of DRD. ABC Arbitrage SA boosted its stake in shares of DRDGOLD by 107.2% in the fourth quarter. ABC Arbitrage SA now owns 127,033 shares of the basic materials company's stock valued at $3,939,000 after buying an additional 65,729 shares in the last quarter. TD Waterhouse Canada Inc. raised its position in DRDGOLD by 5,273.3% in the fourth quarter. TD Waterhouse Canada Inc. now owns 22,568 shares of the basic materials company's stock worth $699,000 after acquiring an additional 22,148 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in DRDGOLD by 1.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 570,807 shares of the basic materials company's stock worth $15,754,000 after acquiring an additional 6,740 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in DRDGOLD in the third quarter valued at $102,000. Finally, Quadrant Capital Group LLC boosted its position in shares of DRDGOLD by 15.5% during the 3rd quarter. Quadrant Capital Group LLC now owns 25,234 shares of the basic materials company's stock worth $696,000 after purchasing an additional 3,391 shares in the last quarter. Institutional investors and hedge funds own 14.70% of the company's stock.

Wall Street Analyst Weigh In

DRD has been the subject of a number of research analyst reports. Weiss Ratings downgraded shares of DRDGOLD from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, May 6th. Wall Street Zen downgraded shares of DRDGOLD from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 4th. Zacks Research lowered shares of DRDGOLD from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $35.00 target price on shares of DRDGOLD in a report on Thursday, July 16th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $35.00.

DRDGOLD Trading Up 3.5%

DRDGOLD stock opened at $20.87 on Friday. DRDGOLD Limited has a 52 week low of $13.25 and a 52 week high of $39.37. The firm's 50-day simple moving average is $22.67 and its 200 day simple moving average is $28.66.

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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