DRDGOLD (NYSE:DRD) Share Price Breaks Above 50 Day Moving Average - Time to Sell?

Key Points

• DRDGOLD shares moved above their 50-day moving average, trading at $25.50 after reaching $25.58; the 50-day average is $25.41, while the 200-day average is $27.33.
• Analyst sentiment is Moderate Buy, with a consensus price target of $35. Two analysts rate the stock Buy and one rates it Hold.
• Company insiders sold 644,448 shares worth about $1.62 million over the past 90 days; insiders retain 1% of the company’s stock.

DRDGOLD Limited (NYSE:DRD - Get Free Report) shares crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $25.41 and traded as high as $25.58. DRDGOLD shares last traded at $25.50, with a volume of 279,982 shares trading hands.

Wall Street Analysts Forecast Growth

DRD has been the subject of several recent analyst reports. Zacks Research upgraded DRDGOLD from a "strong sell" rating to a "hold" rating in a research note on Monday, October 19th. HC Wainwright lifted their price target on DRDGOLD from $33.00 to $35.00 and gave the company a "buy" rating in a report on Thursday, August 20th. Finally, Weiss Ratings upgraded shares of DRDGOLD from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, October 26th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $35.00.

DRDGOLD Trading Up 3.9%

The firm's 50-day moving average price is $25.41 and its 200 day moving average price is $27.33.

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

DRDGOLD Dividend Announcement

The company also recently declared a dividend, which was paid on Monday, September 21st. Stockholders of record on Friday, September 11th were given a dividend of $0.7379 per share. The ex-dividend date was Friday, September 11th. This represents a dividend yield of 551.0%.

Insider Activity at DRDGOLD

In other DRDGOLD news, insider Henry Gouws sold 89,160 shares of the firm's stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $2.44, for a total transaction of $217,550.40. Following the completion of the sale, the insider owned 3,050 shares of the company's stock, valued at $7,442. This trade represents a 96.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kevin Kruger sold 73,830 shares of DRDGOLD stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $2.44, for a total value of $180,145.20. Following the completion of the transaction, the insider owned 9,240 shares of the company's stock, valued at approximately $22,545.60. This trade represents a 88.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 644,448 shares of company stock worth $1,615,568 over the last 90 days. Insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On DRDGOLD

A number of institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC grew its holdings in shares of DRDGOLD by 58.3% in the 1st quarter. Renaissance Technologies LLC now owns 349,645 shares of the basic materials company's stock valued at $10,269,000 after buying an additional 128,832 shares during the period. Amundi lifted its stake in DRDGOLD by 9.1% during the first quarter. Amundi now owns 507,710 shares of the basic materials company's stock worth $14,911,000 after purchasing an additional 42,342 shares during the last quarter. Sei Investments Co. increased its stake in shares of DRDGOLD by 60.8% in the 1st quarter. Sei Investments Co. now owns 79,738 shares of the basic materials company's stock worth $2,342,000 after acquiring an additional 30,137 shares in the last quarter. U S Global Investors Inc. grew its holdings in shares of DRDGOLD by 10.6% in the first quarter. U S Global Investors Inc. now owns 245,545 shares of the basic materials company's stock worth $7,212,000 after acquiring an additional 23,512 shares during the period. Finally, Y Intercept Hong Kong Ltd grew its holdings in shares of DRDGOLD by 259.5% in the first quarter. Y Intercept Hong Kong Ltd now owns 28,069 shares of the basic materials company's stock valued at $824,000 after purchasing an additional 20,261 shares in the last quarter. 14.70% of the stock is currently owned by institutional investors and hedge funds.

DRDGOLD Company Profile

DRDGOLD Limited is a South African gold producer focused on the retreatment of surface mine waste. Rather than operating conventional underground mines, the company processes gold-bearing tailings, sand dumps and slimes dams left by historical mining activities, recovering gold and reducing the environmental footprint of legacy mine waste.

DRDGOLD's principal operations are the Ergo and Far West Gold Recoveries (FWGR) businesses. Ergo processes surface material from areas around Johannesburg and the East Rand, while FWGR operates on the West Rand and Far West Rand.

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