DRDGOLD (NYSE:DRD) Stock Rating Upgraded by Wall Street Zen

DRDGOLD (NYSE:DRD) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

Other equities research analysts have also issued research reports about the company. Zacks Research upgraded DRDGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, November 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of DRDGOLD in a research note on Wednesday, January 21st. Finally, HC Wainwright boosted their target price on shares of DRDGOLD to $46.50 and gave the stock a “buy” rating in a research report on Friday, January 30th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, DRDGOLD has an average rating of “Moderate Buy” and an average price target of $46.50.

DRDGOLD Stock Performance

Shares of DRD stock opened at $35.90 on Friday. The stock’s fifty day moving average price is $33.70 and its 200 day moving average price is $27.74. DRDGOLD has a 1-year low of $10.73 and a 1-year high of $39.37.

Institutional Investors Weigh In On DRDGOLD

A number of large investors have recently bought and sold shares of DRD. Arrowstreet Capital Limited Partnership raised its position in DRDGOLD by 239.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 989,089 shares of the basic materials company’s stock worth $27,299,000 after buying an additional 697,840 shares during the last quarter. Amundi acquired a new stake in DRDGOLD during the 3rd quarter worth about $17,467,000. AQR Capital Management LLC raised its stake in shares of DRDGOLD by 265.4% during the 4th quarter. AQR Capital Management LLC now owns 314,679 shares of the basic materials company’s stock valued at $9,758,000 after buying an additional 228,561 shares during the last quarter. Millennium Management LLC boosted its stake in shares of DRDGOLD by 91.9% in the third quarter. Millennium Management LLC now owns 397,000 shares of the basic materials company’s stock worth $10,957,000 after buying an additional 190,152 shares during the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new stake in shares of DRDGOLD in the second quarter worth about $2,505,000. Hedge funds and other institutional investors own 14.70% of the company’s stock.

DRDGOLD Company Profile

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.