DRDGOLD Limited $DRD Shares Sold by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio cut its DRDGOLD position by 42.9% in the first quarter, selling 55,301 shares and retaining 73,694 shares worth approximately $2.16 million. Institutional investors collectively own 14.7% of the company.
• Analyst sentiment remains positive but has softened, with two Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $35.00.
• DRDGOLD shares opened at $20.40 and have traded between $13.25 and $39.37 over the past year; the company produces gold by retreating historic mine tailings in South Africa.

Public Employees Retirement System of Ohio trimmed its position in DRDGOLD Limited (NYSE:DRD - Free Report) by 42.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,694 shares of the basic materials company's stock after selling 55,301 shares during the period. Public Employees Retirement System of Ohio owned 0.09% of DRDGOLD worth $2,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its stake in DRDGOLD by 33.5% in the 4th quarter. Farther Finance Advisors LLC now owns 2,256 shares of the basic materials company's stock valued at $70,000 after acquiring an additional 566 shares during the period. Osaic Holdings Inc. grew its holdings in DRDGOLD by 8.1% in the 4th quarter. Osaic Holdings Inc. now owns 7,564 shares of the basic materials company's stock valued at $235,000 after buying an additional 570 shares in the last quarter. Blue Trust Inc. increased its stake in shares of DRDGOLD by 21.8% in the 4th quarter. Blue Trust Inc. now owns 4,476 shares of the basic materials company's stock worth $139,000 after acquiring an additional 800 shares during the last quarter. Merit Financial Group LLC raised its holdings in shares of DRDGOLD by 7.0% during the 3rd quarter. Merit Financial Group LLC now owns 12,277 shares of the basic materials company's stock worth $339,000 after acquiring an additional 800 shares during the period. Finally, Campbell & CO Investment Adviser LLC boosted its position in shares of DRDGOLD by 3.5% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 26,451 shares of the basic materials company's stock valued at $820,000 after acquiring an additional 895 shares during the last quarter. 14.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Weiss Ratings cut shares of DRDGOLD from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, May 6th. Zacks Research downgraded shares of DRDGOLD from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. HC Wainwright reiterated a "buy" rating and issued a $35.00 price objective on shares of DRDGOLD in a report on Thursday, July 16th. Finally, Wall Street Zen lowered DRDGOLD from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 4th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $35.00.

DRDGOLD Trading Down 2.2%

DRDGOLD stock opened at $20.40 on Friday. DRDGOLD Limited has a 52-week low of $13.25 and a 52-week high of $39.37. The company's 50 day moving average is $22.56 and its two-hundred day moving average is $28.61.

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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