Kiker Wealth Management LLC Invests $142,000 in DRDGOLD Limited $DRD

Key Points

• Kiker Wealth Management LLC invested $142,000 in DRDGOLD Limited, purchasing 10,669 shares of the company during the second quarter.
• DRDGOLD announced an increase in its annual dividend to $0.2269, up from the previous $0.16, representing a significant dividend yield of 202.0%.
• Several analysts have rated DRDGOLD as a "buy," with the average target price set at $30.50, reflecting optimism in the stock's performance.

Kiker Wealth Management LLC bought a new position in shares of DRDGOLD Limited (NYSE:DRD - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,669 shares of the basic materials company's stock, valued at approximately $142,000.

A number of other institutional investors and hedge funds also recently modified their holdings of DRD. Bank of America Corp DE raised its position in shares of DRDGOLD by 47.2% during the fourth quarter. Bank of America Corp DE now owns 16,732 shares of the basic materials company's stock worth $144,000 after purchasing an additional 5,364 shares during the period. GAMMA Investing LLC raised its position in DRDGOLD by 2,264.9% during the first quarter. GAMMA Investing LLC now owns 76,623 shares of the basic materials company's stock valued at $1,185,000 after buying an additional 73,383 shares during the period. Synergy Asset Management LLC raised its position in DRDGOLD by 18,615.5% during the first quarter. Synergy Asset Management LLC now owns 10,855 shares of the basic materials company's stock valued at $168,000 after buying an additional 10,797 shares during the period. U S Global Investors Inc. acquired a new position in DRDGOLD during the first quarter valued at $2,150,000. Finally, D.A. Davidson & CO. acquired a new position in DRDGOLD during the first quarter valued at $350,000. 14.70% of the stock is owned by institutional investors and hedge funds.

DRDGOLD Stock Performance

DRD opened at $29.59 on Tuesday. The company has a market cap of $2.56 billion, a PE ratio of 23.48 and a beta of 0.36. The stock has a 50-day moving average of $21.81 and a 200-day moving average of $17.08. DRDGOLD Limited has a 52-week low of $8.38 and a 52-week high of $30.55.

DRDGOLD Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on DRD. Weiss Ratings reissued a "buy (b)" rating on shares of DRDGOLD in a research report on Wednesday, October 8th. Wall Street Zen lowered DRDGOLD from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 17th. Zacks Research raised DRDGOLD from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 25th. Finally, HC Wainwright upped their price target on DRDGOLD from $18.75 to $30.50 and gave the company a "buy" rating in a research report on Tuesday, September 23rd. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, DRDGOLD has an average rating of "Buy" and an average target price of $30.50.

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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