U S Global Investors Inc. Boosts Position in DRDGOLD Limited $DRD

Key Points

• U S Global Investors Inc. increased its stake in DRDGOLD Limited by 91.3%, owning 265,755 shares valued at approximately $3.54 million as of its latest SEC filing.
• Analysts have mixed ratings for DRDGOLD, with Wall Street Zen downgrading the stock from "strong-buy" to "buy," while HC Wainwright set a new target price of $30.50.
• DRDGOLD declared an annual dividend of $0.2269 per share, an increase from the previous year's $0.16, resulting in a yield of 202.0%.

U S Global Investors Inc. grew its stake in DRDGOLD Limited (NYSE:DRD - Free Report) by 91.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 265,755 shares of the basic materials company's stock after buying an additional 126,804 shares during the quarter. U S Global Investors Inc. owned approximately 0.31% of DRDGOLD worth $3,543,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of DRD. Acadian Asset Management LLC purchased a new stake in DRDGOLD in the first quarter worth about $2,055,000. AQR Capital Management LLC purchased a new stake in DRDGOLD in the first quarter worth about $1,759,000. GAMMA Investing LLC increased its position in DRDGOLD by 2,264.9% in the first quarter. GAMMA Investing LLC now owns 76,623 shares of the basic materials company's stock worth $1,185,000 after buying an additional 73,383 shares in the last quarter. American Century Companies Inc. increased its position in DRDGOLD by 5.7% in the first quarter. American Century Companies Inc. now owns 941,915 shares of the basic materials company's stock worth $14,571,000 after buying an additional 50,810 shares in the last quarter. Finally, D.A. Davidson & CO. purchased a new stake in DRDGOLD in the first quarter worth about $350,000. Hedge funds and other institutional investors own 14.70% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Wall Street Zen cut DRDGOLD from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 17th. Weiss Ratings reiterated a "buy (b)" rating on shares of DRDGOLD in a research report on Wednesday. HC Wainwright increased their target price on DRDGOLD from $18.75 to $30.50 and gave the stock a "buy" rating in a research report on Tuesday, September 23rd. Finally, Zacks Research upgraded DRDGOLD from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 25th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $30.50.

DRDGOLD Trading Up 2.4%

NYSE:DRD opened at $28.71 on Friday. DRDGOLD Limited has a 12-month low of $8.38 and a 12-month high of $30.43. The stock has a 50-day moving average price of $21.52 and a 200 day moving average price of $16.94. The stock has a market capitalization of $2.48 billion, a P/E ratio of 22.79 and a beta of 0.36.

DRDGOLD Increases Dividend

The company also recently declared an annual dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 12th were paid a dividend of $0.2269 per share. The ex-dividend date of this dividend was Friday, September 12th. This is a boost from DRDGOLD's previous annual dividend of $0.16. This represents a yield of 202.0%. DRDGOLD's dividend payout ratio is currently 29.37%.

About DRDGOLD

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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