Renaissance Technologies LLC Buys 128,832 Shares of DRDGOLD Limited $DRD

Key Points

• Renaissance Technologies increased its DRDGOLD stake by 58.3% in the first quarter, adding 128,832 shares to own 349,645 shares, or 0.40% of the company valued at approximately $10.3 million.
• Shares opened at $20.40, below their 50-day and 200-day moving averages of $22.56 and $28.57, respectively, and well below the 12-month high of $39.37.
• Analyst sentiment remains moderately positive, with two Buy ratings and one Hold rating and an average price target of $35.00, implying substantial upside from the current price.

Renaissance Technologies LLC increased its position in DRDGOLD Limited (NYSE:DRD - Free Report) by 58.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 349,645 shares of the basic materials company's stock after buying an additional 128,832 shares during the quarter. Renaissance Technologies LLC owned 0.40% of DRDGOLD worth $10,269,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new stake in shares of DRDGOLD during the 4th quarter valued at about $42,000. Farther Finance Advisors LLC raised its stake in DRDGOLD by 33.5% in the fourth quarter. Farther Finance Advisors LLC now owns 2,256 shares of the basic materials company's stock worth $70,000 after buying an additional 566 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in DRDGOLD by 11.5% in the second quarter. Osaic Holdings Inc. now owns 6,892 shares of the basic materials company's stock worth $92,000 after buying an additional 713 shares during the period. BNP Paribas Financial Markets purchased a new stake in DRDGOLD in the third quarter worth about $102,000. Finally, Blue Trust Inc. boosted its position in DRDGOLD by 21.8% during the 4th quarter. Blue Trust Inc. now owns 4,476 shares of the basic materials company's stock valued at $139,000 after acquiring an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 14.70% of the company's stock.

DRDGOLD Stock Performance

Shares of NYSE DRD opened at $20.40 on Monday. The firm has a 50 day moving average of $22.56 and a 200 day moving average of $28.57. DRDGOLD Limited has a 12-month low of $13.25 and a 12-month high of $39.37.

Wall Street Analysts Forecast Growth

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

About DRDGOLD

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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