DRDGOLD (NYSE:DRD) Insider Sells 5,490 Shares of Stock

Key Points

• Insider selling: Ryno Bornman sold 5,490 DRDGOLD shares for $15,097.50, reducing his direct holdings by 45.01% to 6,708 shares.
• Financial performance: DRDGOLD reported quarterly earnings of $0.83 per share on revenue of $188.03 million; analysts expect full-year EPS of $3.12.
• Market outlook: The stock recently traded at $29.69, while analyst ratings remain mixed, producing an average “Hold” rating and a $35 price target. The company also declared a $0.7379 dividend payable September 21 to shareholders of record September 11.

DRDGOLD Limited (NYSE:DRD - Get Free Report) insider Ryno Bornman sold 5,490 shares of the business's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $2.75, for a total transaction of $15,097.50. Following the completion of the sale, the insider directly owned 6,708 shares in the company, valued at approximately $18,447. This represents a 45.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

DRDGOLD Stock Performance

NYSE DRD traded up $1.39 on Thursday, reaching $29.69. The company had a trading volume of 302,032 shares, compared to its average volume of 330,681. DRDGOLD Limited has a fifty-two week low of $19.47 and a fifty-two week high of $39.37. The business has a 50 day moving average of $23.38 and a two-hundred day moving average of $27.12.

DRDGOLD (NYSE:DRD - Get Free Report) last announced its earnings results on Wednesday, August 19th. The basic materials company reported $0.83 EPS for the quarter. The company had revenue of $188.03 million for the quarter. Sell-side analysts expect that DRDGOLD Limited will post 3.12 EPS for the current year.

DRDGOLD Announces Dividend

The business also recently disclosed a dividend, which will be paid on Monday, September 21st. Investors of record on Friday, September 11th will be paid a $0.7379 dividend. This represents a dividend yield of 530.0%. The ex-dividend date of this dividend is Friday, September 11th.

Analyst Ratings Changes

A number of analysts have weighed in on DRD shares. Zacks Research downgraded shares of DRDGOLD from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 4th. HC Wainwright boosted their price target on shares of DRDGOLD from $33.00 to $35.00 and gave the stock a "buy" rating in a research report on Thursday, August 20th. Wall Street Zen lowered shares of DRDGOLD from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 4th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of DRDGOLD in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $35.00.

Institutional Investors Weigh In On DRDGOLD

Large investors have recently bought and sold shares of the stock. AQR Capital Management LLC bought a new stake in DRDGOLD in the first quarter valued at $1,759,000. JPMorgan Chase & Co. raised its holdings in shares of DRDGOLD by 7,065.0% during the second quarter. JPMorgan Chase & Co. now owns 30,093 shares of the basic materials company's stock valued at $401,000 after purchasing an additional 29,673 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of DRDGOLD by 75.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 291,249 shares of the basic materials company's stock worth $3,882,000 after purchasing an additional 124,831 shares in the last quarter. Jane Street Group LLC boosted its position in shares of DRDGOLD by 174.4% during the 2nd quarter. Jane Street Group LLC now owns 124,255 shares of the basic materials company's stock worth $1,656,000 after purchasing an additional 78,978 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of DRDGOLD by 138.0% in the 2nd quarter. Bank of America Corp DE now owns 42,846 shares of the basic materials company's stock valued at $571,000 after buying an additional 24,845 shares during the period. 14.70% of the stock is currently owned by institutional investors and hedge funds.

DRDGOLD Company Profile

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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