DRDGOLD (NYSE:DRD) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• DRDGOLD shares moved above their 200-day moving average of $26.25, reaching $26.68 and last trading at $26.511, up 2.9%.
• Analyst views remain mixed: MarketBeat reports a consensus “Hold” rating and a $35.00 average price target, with recent ratings ranging from “Strong Sell” to “Buy.”
• The company reported quarterly earnings of $0.83 per share on $188.03 million in revenue, while insiders sold 139,080 shares worth approximately $382,470 over the past 90 days.

Shares of DRDGOLD Limited (NYSE:DRD - Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $26.25 and traded as high as $26.68. DRDGOLD shares last traded at $26.5110, with a volume of 337,765 shares.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on DRD shares. Wall Street Zen cut shares of DRDGOLD from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 4th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of DRDGOLD in a research report on Monday, August 3rd. Zacks Research cut DRDGOLD from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 4th. Finally, HC Wainwright increased 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. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $35.00.

DRDGOLD Stock Up 2.9%

The firm's fifty day moving average is $24.99 and its 200-day moving average is $26.25.

DRDGOLD (NYSE:DRD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 19th. The basic materials company reported $0.83 earnings per share for the quarter. The company had revenue of $188.03 million for the quarter. Equities analysts predict that DRDGOLD Limited will post 3.12 EPS for the current fiscal year.

DRDGOLD Dividend Announcement

The business 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 of this dividend was Friday, September 11th. This represents a dividend yield of 551.0%.

Insiders Place Their Bets

In related news, insider Henry Gouws sold 16,826 shares of the business's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $2.75, for a total value of $46,271.50. Following the completion of the sale, the insider directly owned 3,050 shares of the company's stock, valued at $8,387.50. The trade was a 84.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Daniel Pretorius sold 35,537 shares of the company'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 value of $97,726.75. Following the sale, the chief executive officer owned 999,816 shares in the company, valued at $2,749,494. The trade was a 3.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 139,080 shares of company stock valued at $382,470. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On DRDGOLD

Several institutional investors and hedge funds have recently made changes to their positions in DRD. EverSource Wealth Advisors LLC lifted its holdings in shares of DRDGOLD by 21.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,895 shares of the basic materials company's stock worth $173,000 after purchasing an additional 1,059 shares during the last quarter. Savant Capital LLC grew its stake in DRDGOLD by 8.2% during the 4th quarter. Savant Capital LLC now owns 14,777 shares of the basic materials company's stock worth $458,000 after buying an additional 1,123 shares during the last quarter. TD Waterhouse Canada Inc. grew its stake in DRDGOLD by 14.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 28,563 shares of the basic materials company's stock worth $603,000 after buying an additional 3,657 shares during the last quarter. Dimensional Fund Advisors LP increased its position in DRDGOLD by 3.1% in the first quarter. Dimensional Fund Advisors LP now owns 169,473 shares of the basic materials company's stock worth $4,973,000 after buying an additional 5,019 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in DRDGOLD in the first quarter worth $154,000. 14.70% of the stock is owned by institutional investors and hedge funds.

DRDGOLD Company Profile

DRDGOLD Limited is a South African gold producer focused on the recovery of gold from historical mine dumps and tailings. Rather than operating conventional underground mines, the company reprocesses surface material generated by earlier mining activities, extracting gold that remains in the tailings.

Its principal operations are the Ergo Mining and Far West Gold Recoveries businesses. Ergo operates in the Witwatersrand Basin near Johannesburg and the East Rand, while Far West Gold Recoveries processes surface material from the western Witwatersrand.

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