Kgabo Moloto Sells 11,586 Shares of DRDGOLD (NYSE:DRD) Stock

Key Points

• Insider Kgabo Moloto sold 11,586 DRDGOLD shares at an average price of $2.75, generating $31,861.50 and reducing his ownership by 50%.
• DRDGOLD reported quarterly earnings of $0.83 per share on $188.03 million in revenue, while its shares recently traded at $29.69. The company also declared a $0.7379 dividend payable September 21 to shareholders of record September 11.
• Institutional ownership remains notable at 14.7%, with several hedge funds increasing their positions. Analyst sentiment is mixed, resulting in a consensus “Hold” rating and an average price target of $35.

DRDGOLD Limited (NYSE:DRD - Get Free Report) insider Kgabo Moloto sold 11,586 shares of the firm's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $2.75, for a total transaction of $31,861.50. Following the sale, the insider directly owned 11,586 shares in the company, valued at $31,861.50. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

DRDGOLD Stock Performance

Shares of NYSE:DRD traded up $1.39 during trading on Thursday, reaching $29.69. The stock had a trading volume of 302,042 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 fifty day moving average price of $23.38 and a 200-day moving average price of $27.12.

DRDGOLD (NYSE:DRD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 19th. The basic materials company reported $0.83 earnings per share for the quarter. The business had revenue of $188.03 million during the quarter. On average, equities analysts expect that DRDGOLD Limited will post 3.12 EPS for the current year.

DRDGOLD Dividend Announcement

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

More DRDGOLD News

Here are the key news stories impacting DRDGOLD this week:

• Neutral Sentiment: No new operating, earnings, production, or gold-price developments were reported in these filings, so the transactions do not change DRDGOLD’s underlying financial outlook.
• Negative Sentiment: Eight executives and insiders sold a combined 127,494 shares for approximately $350,609 on September 1 at an average price of $2.75 per share. The selling included CEO Daniel Pretorius, who reduced his position by 3.43%, CFO Henriette Hooijer, who reduced hers by 4.61%, and COO Jacobus Schoeman, who cut his holdings by 43.70%. DRDGOLD insider transaction filing
• Negative Sentiment: Several other insiders made sizable reductions: Henry Gouws sold 84.65% of his position, while Lihan Laas and Dean Lindecke each reduced their holdings by 50%. Kevin Kruger and Ryno Bornman each cut ownership by roughly 45%. Although insider sales can reflect personal liquidity or compensation-related transactions rather than a negative business view, the breadth of the selling may create a short-term overhang for DRD. Additional DRDGOLD insider transaction filing

Institutional Investors Weigh In On DRDGOLD

Several institutional investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership increased its position in shares of DRDGOLD by 239.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 989,089 shares of the basic materials company's stock worth $27,299,000 after acquiring an additional 697,840 shares in the last quarter. Amundi acquired a new position in shares of DRDGOLD during the 3rd quarter valued at $17,467,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in DRDGOLD by 1.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 570,807 shares of the basic materials company's stock worth $15,754,000 after purchasing an additional 6,740 shares during the period. Millennium Management LLC boosted its position in DRDGOLD by 91.9% during the 3rd quarter. Millennium Management LLC now owns 397,000 shares of the basic materials company's stock worth $10,957,000 after purchasing an additional 190,152 shares during the period. Finally, Marshall Wace LLP increased its holdings in DRDGOLD by 30.2% in the 4th quarter. Marshall Wace LLP now owns 391,702 shares of the basic materials company's stock valued at $12,147,000 after purchasing an additional 90,863 shares in the last quarter. 14.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

About DRDGOLD

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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