DRDGOLD (NYSE:DRD) Price Target Increased to $15.50 by Analysts at HC Wainwright

DRDGOLD (NYSE:DRD - Free Report) had its price objective hoisted by HC Wainwright from $13.25 to $15.50 in a report published on Tuesday, Benzinga reports. They currently have a buy rating on the basic materials company's stock.

Separately, StockNews.com cut shares of DRDGOLD from a buy rating to a hold rating in a research note on Monday.

DRDGOLD Stock Up 0.9 %

Shares of NYSE DRD traded up $0.08 during trading on Tuesday, hitting $8.62. The company had a trading volume of 120,427 shares, compared to its average volume of 326,928. The stock has a 50 day simple moving average of $8.21 and a 200 day simple moving average of $8.05. DRDGOLD has a 12 month low of $6.48 and a 12 month high of $12.86.

DRDGOLD Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, March 8th were issued a dividend of $0.1058 per share. This represents a yield of 5%. The ex-dividend date was Thursday, March 7th.

Hedge Funds Weigh In On DRDGOLD

Several large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in DRDGOLD by 7.0% during the 1st quarter. Van ECK Associates Corp now owns 6,563,184 shares of the basic materials company's stock valued at $53,818,000 after buying an additional 430,603 shares in the last quarter. AJOVista LLC purchased a new stake in DRDGOLD during the 4th quarter valued at approximately $792,000. Acadian Asset Management LLC grew its holdings in DRDGOLD by 6.8% during the 3rd quarter. Acadian Asset Management LLC now owns 1,467,309 shares of the basic materials company's stock valued at $12,161,000 after buying an additional 93,250 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in DRDGOLD during the 4th quarter valued at approximately $507,000. Finally, Trexquant Investment LP purchased a new stake in DRDGOLD during the 3rd quarter valued at approximately $320,000. Hedge funds and other institutional investors own 14.70% of the company's stock.

About DRDGOLD

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.