DRDGOLD Limited $DRD Shares Sold by Van ECK Associates Corp

Key Points

• VanECK Associates cut its stake in DRDGOLD by 71.7% in Q3, selling 3,210,400 shares and leaving it with 1,266,027 shares (about 1.46% of the company) valued at $34.94 million.
• DRDGOLD declared a dividend of $0.3122 per share payable on March 23 with a record/ex-dividend date of March 13, a yield the article reports as 174.0%.
• Several analysts have recently upgraded DRD (including Wall Street Zen, Zacks and HC Wainwright), and the stock's average price target is $46.50.

Van ECK Associates Corp lessened its stake in DRDGOLD Limited (NYSE:DRD - Free Report) by 71.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,266,027 shares of the basic materials company's stock after selling 3,210,400 shares during the period. Van ECK Associates Corp owned 1.46% of DRDGOLD worth $34,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in DRD. Rockefeller Capital Management L.P. acquired a new stake in shares of DRDGOLD in the 2nd quarter valued at about $2,505,000. Arrowstreet Capital Limited Partnership lifted its stake in DRDGOLD by 75.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 291,249 shares of the basic materials company's stock valued at $3,882,000 after buying an additional 124,831 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of DRDGOLD in the first quarter valued at approximately $1,759,000. Barclays PLC grew its position in shares of DRDGOLD by 6,486.8% during the third quarter. Barclays PLC now owns 106,179 shares of the basic materials company's stock worth $2,931,000 after acquiring an additional 104,567 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of DRDGOLD by 174.4% in the 2nd quarter. Jane Street Group LLC now owns 124,255 shares of the basic materials company's stock valued at $1,656,000 after acquiring an additional 78,978 shares during the period. Hedge funds and other institutional investors own 14.70% of the company's stock.

DRDGOLD Stock Performance

Shares of DRD opened at $33.01 on Thursday. DRDGOLD Limited has a 12-month low of $12.75 and a 12-month high of $39.37. The company has a 50-day moving average of $34.66 and a two-hundred day moving average of $29.63.

DRDGOLD Dividend Announcement

The business also recently declared a dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, March 13th will be given a dividend of $0.3122 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a yield of 174.0%.

Analysts Set New Price Targets

DRD has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of DRDGOLD from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 21st. HC Wainwright upped their target price on shares of DRDGOLD to $46.50 and gave the company a "buy" rating in a report on Friday, January 30th. Zacks Research upgraded shares of DRDGOLD from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 19th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of DRDGOLD in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $46.50.

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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