DRDGOLD (NYSE:DRD) Shares Gap Up to $8.76

DRDGOLD Limited (NYSE:DRD - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $8.76, but opened at $9.02. DRDGOLD shares last traded at $8.92, with a volume of 74,264 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DRD. StockNews.com downgraded shares of DRDGOLD from a "buy" rating to a "hold" rating in a research report on Thursday, March 21st. HC Wainwright reduced their price target on shares of DRDGOLD from $17.00 to $13.25 and set a "buy" rating for the company in a research note on Wednesday, December 13th.

DRDGOLD Stock Up 1.0 %

The business's 50 day moving average price is $7.72 and its two-hundred day moving average price is $8.12.

DRDGOLD Cuts Dividend

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

Institutional Trading of DRDGOLD

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its holdings in shares of DRDGOLD by 317,900.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,180 shares of the basic materials company's stock worth $25,000 after purchasing an additional 3,179 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of DRDGOLD during the first quarter valued at approximately $36,000. Systematic Alpha Investments LLC acquired a new stake in shares of DRDGOLD during the third quarter valued at approximately $53,000. Squarepoint Ops LLC acquired a new stake in shares of DRDGOLD during the first quarter valued at approximately $100,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of DRDGOLD during the fourth quarter valued at approximately $91,000. 14.70% of the stock is currently owned by institutional investors.

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.