HC Wainwright Issues Positive Forecast for DRDGOLD (NYSE:DRD) Stock Price

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 target price lifted by analysts at HC Wainwright from $16.25 to $18.75 in a research note issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the basic materials company's stock. HC Wainwright's price target would suggest a potential upside of 1.76% from the company's current price.

Separately, Wall Street Zen lowered shares of DRDGOLD from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. One analyst has rated the stock with a Buy rating, According to MarketBeat, DRDGOLD has a consensus rating of "Buy" and an average target price of $18.75.

DRDGOLD Price Performance

DRD traded up $0.64 during midday trading on Thursday, reaching $18.43. The company's stock had a trading volume of 537,962 shares, compared to its average volume of 434,786. DRDGOLD has a 1 year low of $7.64 and a 1 year high of $18.65. The stock's 50-day moving average is $14.36 and its 200-day moving average is $14.16.

Institutional Trading of DRDGOLD

A number of large investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. grew its position in DRDGOLD by 10.0% during the fourth quarter. Ameriprise Financial Inc. now owns 15,779 shares of the basic materials company's stock valued at $136,000 after buying an additional 1,438 shares during the period. GAMMA Investing LLC grew its position in DRDGOLD by 29.7% during the second quarter. GAMMA Investing LLC now owns 6,422 shares of the basic materials company's stock valued at $86,000 after buying an additional 1,469 shares during the period. Rathbones Group PLC grew its position in DRDGOLD by 15.7% during the first quarter. Rathbones Group PLC now owns 16,575 shares of the basic materials company's stock valued at $256,000 after buying an additional 2,250 shares during the period. Banque Cantonale Vaudoise bought a new stake in DRDGOLD during the first quarter valued at approximately $39,000. Finally, Aquatic Capital Management LLC bought a new stake in DRDGOLD during the fourth quarter valued at approximately $25,000. 14.70% of the stock is currently owned by institutional investors.

DRDGOLD Company 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.