DRDGOLD Limited (NYSE:DRD) Short Interest Up 10.3% in March

DRDGOLD Limited (NYSE:DRD - Get Free Report) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 1,280,000 shares, a growth of 10.3% from the March 15th total of 1,160,000 shares. Based on an average daily volume of 334,200 shares, the days-to-cover ratio is currently 3.8 days.

DRDGOLD Stock Performance

Shares of NYSE:DRD traded down $0.07 during mid-day trading on Monday, reaching $8.38. The stock had a trading volume of 373,302 shares, compared to its average volume of 344,654. The firm has a 50 day simple moving average of $7.78 and a two-hundred day simple moving average of $8.13. DRDGOLD has a twelve month low of $6.48 and a twelve month high of $13.85.

DRDGOLD Cuts Dividend

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

Institutional Trading of DRDGOLD

Hedge funds have recently modified their holdings of the company. Advisory Services Network LLC raised its holdings in DRDGOLD by 4.0% during the 1st quarter. Advisory Services Network LLC now owns 42,614 shares of the basic materials company's stock worth $408,000 after buying an additional 1,652 shares during the period. Tower Research Capital LLC TRC raised its holdings in DRDGOLD by 317,900.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,180 shares of the basic materials company's stock worth $25,000 after buying an additional 3,179 shares during the period. Cubist Systematic Strategies LLC raised its holdings in DRDGOLD by 11.4% during the 1st quarter. Cubist Systematic Strategies LLC now owns 33,171 shares of the basic materials company's stock worth $318,000 after buying an additional 3,398 shares during the period. UBS Group AG raised its holdings in DRDGOLD by 13.4% during the 3rd quarter. UBS Group AG now owns 28,997 shares of the basic materials company's stock worth $241,000 after buying an additional 3,416 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in DRDGOLD during the 1st quarter worth approximately $36,000. 14.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of DRDGOLD from a "buy" rating to a "hold" rating in a research note on Thursday, March 21st.

DRDGOLD Company Profile

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.