Insider Selling: DRDGOLD (NYSE:DRD) COO Sells $53,358.25 in Stock

Key Points

• DRDGOLD COO Jacobus Schoeman sold 19,403 shares at an average price of $2.75, totaling $53,358.25 and reducing his ownership by 43.7% to 25,000 shares.
• DRDGOLD shares rose 4.9% to $29.69, while the company reported quarterly EPS of $0.83 on revenue of $188.03 million.
• The company declared a $0.7379 dividend payable September 21, and analysts maintain a consensus “Hold” rating with a $35 price target, despite mixed recommendations.

DRDGOLD Limited (NYSE:DRD - Get Free Report) COO Jacobus Schoeman sold 19,403 shares of the business's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $2.75, for a total value of $53,358.25. Following the completion of the sale, the chief operating officer owned 25,000 shares in the company, valued at approximately $68,750. The trade was a 43.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

DRDGOLD Stock Up 4.9%

Shares of DRD stock traded up $1.39 on Thursday, hitting $29.69. 302,032 shares of the stock were exchanged, compared to its average volume of 330,681. The firm's 50 day moving average is $23.38 and its two-hundred day moving average is $27.12. DRDGOLD Limited has a one year low of $19.47 and a one year high of $39.37.

DRDGOLD (NYSE:DRD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 19th. The basic materials company reported $0.83 earnings per share (EPS) for the quarter. The firm had revenue of $188.03 million during the quarter. As a group, equities research analysts predict that DRDGOLD Limited will post 3.12 earnings per share for the current year.

DRDGOLD Dividend Announcement

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

Institutional Trading of DRDGOLD

Institutional investors and hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its holdings in DRDGOLD by 33.5% in the 4th quarter. Farther Finance Advisors LLC now owns 2,256 shares of the basic materials company's stock valued at $70,000 after purchasing an additional 566 shares during the period. Osaic Holdings Inc. increased its holdings in shares of DRDGOLD by 8.1% in the fourth quarter. Osaic Holdings Inc. now owns 7,564 shares of the basic materials company's stock worth $235,000 after purchasing an additional 570 shares during the period. Merit Financial Group LLC boosted its stake in DRDGOLD by 7.0% during the third quarter. Merit Financial Group LLC now owns 12,277 shares of the basic materials company's stock valued at $339,000 after buying an additional 800 shares during the period. Campbell & CO Investment Adviser LLC grew its position in DRDGOLD by 3.5% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 26,451 shares of the basic materials company's stock worth $820,000 after buying an additional 895 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in DRDGOLD by 21.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,895 shares of the basic materials company's stock worth $173,000 after acquiring an additional 1,059 shares during the last quarter. 14.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DRD has been the subject of several analyst reports. Zacks Research downgraded shares of DRDGOLD from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 4th. Weiss Ratings reissued a "buy (b-)" rating on shares of DRDGOLD in a report on Monday, August 3rd. Wall Street Zen lowered DRDGOLD from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 4th. Finally, HC Wainwright lifted their price target on DRDGOLD from $33.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday, August 20th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $35.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source