Short Interest in DRDGOLD Limited (NYSE:DRD) Drops By 22.9%

Key Points

• Short interest fell by 22.9% to 290,743 shares as of March 31, equal to about 0.3% of the float and a short-interest ratio of 0.7 days based on average daily volume.
• DRDGOLD paid a dividend of $0.3122 per share on March 23, which the report states implies a reported yield of 207.0%.
• Analysts hold a consensus rating of Moderate Buy with a consensus price target of $46.50 (two Buys, one Hold).

DRDGOLD Limited (NYSE:DRD - Get Free Report) saw a significant decrease in short interest in March. As of March 31st, there was short interest totaling 290,743 shares, a decrease of 22.9% from the March 15th total of 377,002 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 406,036 shares, the short-interest ratio is presently 0.7 days.

Hedge Funds Weigh In On DRDGOLD

Institutional investors and hedge funds have recently made changes to their positions in the stock. Banque Cantonale Vaudoise bought a new position in shares of DRDGOLD during the 4th quarter worth about $42,000. Farther Finance Advisors LLC boosted its position in shares of DRDGOLD by 88.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,690 shares of the basic materials company's stock worth $47,000 after purchasing an additional 792 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of DRDGOLD during the 3rd quarter worth about $102,000. Blue Trust Inc. boosted its position in shares of DRDGOLD by 21.8% during the 4th quarter. Blue Trust Inc. now owns 4,476 shares of the basic materials company's stock worth $139,000 after purchasing an additional 800 shares in the last quarter. Finally, Smartleaf Asset Management LLC bought a new position in shares of DRDGOLD during the 4th quarter worth about $140,000. Institutional investors own 14.70% of the company's stock.

DRDGOLD Stock Up 1.7%

Shares of DRD opened at $32.24 on Wednesday. The firm's fifty day simple moving average is $32.29 and its two-hundred day simple moving average is $30.90. DRDGOLD has a 12 month low of $12.75 and a 12 month high of $39.37.

DRDGOLD (NYSE:DRD - Get Free Report) last released its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $6.74 earnings per share (EPS) for the quarter. On average, equities research analysts predict that DRDGOLD will post 1.06 earnings per share for the current year.

DRDGOLD Dividend Announcement

The business also recently disclosed a dividend, which was paid on Monday, March 23rd. Stockholders of record on Friday, March 13th were given a dividend of $0.3122 per share. This represents a dividend yield of 207.0%. The ex-dividend date of this dividend was Friday, March 13th.

Analyst Ratings Changes

Several research analysts have recently issued reports on DRD shares. Wall Street Zen upgraded shares of DRDGOLD from a "buy" rating to a "strong-buy" rating in a report on Saturday, February 21st. Zacks Research downgraded shares of DRDGOLD from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 31st. HC Wainwright increased their price objective on DRDGOLD to $46.50 and gave the company a "buy" rating in a report on Friday, January 30th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of DRDGOLD in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.50.

About DRDGOLD

DRDGOLD NYSE: DRD is a South African gold producer focused on the retreatment of surface tailings from historic mining operations on the Witwatersrand Basin. The company recovers fine gold particles from low‐grade tailings using an integrated, carbon‐in‐leach (CIL) processing circuit that is designed to maximize yield and minimize environmental impact. DRDGOLD's operations are centered on sustainable resource utilization, transforming previously discarded material into saleable gold doré bars.

The company operates two primary tailings retreatment facilities on the West Rand and East Rand of Gauteng Province.

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