DRDGOLD (NYSE:DRD) Price Target Raised to $18.75 at HC Wainwright

Key Points

• HC Wainwright has increased the price target for DRDGOLD from $16.25 to $18.75, indicating a potential upside of 21.63% from the current stock price.
• Wall Street Zen downgraded DRDGOLD's rating from "strong-buy" to "buy," although it still maintains a consensus "Buy" rating overall.
• Institutional investors have shown increasing interest, with significant stake increases from firms like Arrowstreet Capital and U S Global Investors during the second quarter.

DRDGOLD (NYSE:DRD - Get Free Report) had its price objective raised by stock analysts at HC Wainwright from $16.25 to $18.75 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the basic materials company's stock. HC Wainwright's price target points to a potential upside of 5.10% from the stock's current price.

Separately, Wall Street Zen downgraded DRDGOLD from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $18.75.

DRDGOLD Price Performance

DRD traded up $0.64 on Thursday, hitting $17.84. The company had a trading volume of 1,178,699 shares, compared to its average volume of 434,276. The stock has a fifty day moving average price of $14.29 and a 200-day moving average price of $14.12. DRDGOLD has a 12-month low of $7.64 and a 12-month high of $17.98.

Hedge Funds Weigh In On DRDGOLD

Hedge funds and other institutional investors have recently bought and sold shares of the company. Aquatic Capital Management LLC purchased a new position in DRDGOLD during the 4th quarter valued at about $25,000. Banque Cantonale Vaudoise acquired a new stake in DRDGOLD in the 1st quarter valued at about $39,000. Brooklyn Investment Group raised its position in DRDGOLD by 769.7% in the 1st quarter. Brooklyn Investment Group now owns 4,105 shares of the basic materials company's stock valued at $64,000 after purchasing an additional 3,633 shares in the last quarter. GAMMA Investing LLC raised its position in DRDGOLD by 52.9% in the 1st quarter. GAMMA Investing LLC now owns 4,953 shares of the basic materials company's stock valued at $77,000 after purchasing an additional 1,713 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in DRDGOLD in the 4th quarter valued at about $110,000. 14.70% of the stock is currently owned by hedge funds and other institutional investors.

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.