Mpho Mashatola Sells 5,275 Shares of DRDGOLD (NYSE:DRD) Stock

Key Points

• Insider sale: Mpho Mashatola sold 5,275 DRDGOLD shares for approximately $14,506, reducing their ownership by 11.69% to 39,868 shares.
• Operating performance: DRDGOLD reported quarterly earnings of $0.83 per share on revenue of $188.03 million, while its shares recently traded up 4.9% to $29.69.
• Investor outlook: The company declared a $0.7379 dividend, and institutional investors increased their positions; analysts’ ratings remain mixed, resulting in an overall “Hold” consensus and a $35 average price target.

DRDGOLD Limited (NYSE:DRD - Get Free Report) insider Mpho Mashatola sold 5,275 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $2.75, for a total transaction of $14,506.25. Following the completion of the sale, the insider owned 39,868 shares of the company's stock, valued at approximately $109,637. This trade represents a 11.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

DRDGOLD Trading Up 4.9%

Shares of NYSE:DRD traded up $1.39 on Thursday, hitting $29.69. 302,032 shares of the company were exchanged, compared to its average volume of 330,681. The stock's 50 day moving average price is $23.38 and its 200 day moving average price is $27.12. DRDGOLD Limited has a 1-year low of $19.47 and a 1-year high of $39.37.

DRDGOLD (NYSE:DRD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 19th. The basic materials company reported $0.83 EPS for the quarter. The firm had revenue of $188.03 million for the quarter. On average, equities research analysts anticipate 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. Investors of record on Friday, September 11th will be issued a $0.7379 dividend. This represents a yield of 530.0%. The ex-dividend date is Friday, September 11th.

Institutional Trading of DRDGOLD

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

Wall Street Analyst Weigh In

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