DRDGOLD (NYSE:DRD) Downgraded by Wall Street Zen to “Buy”

DRDGOLD (NYSE:DRD) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

A number of other brokerages also recently issued reports on DRD. Zacks Research upgraded shares of DRDGOLD from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 29th. HC Wainwright boosted their price target on shares of DRDGOLD to $46.50 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, Weiss Ratings downgraded shares of DRDGOLD from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $46.50.

DRDGOLD Stock Down 0.9%

Shares of DRDGOLD stock opened at $25.93 on Friday. The firm’s 50 day moving average is $29.03 and its 200 day moving average is $31.06. DRDGOLD has a 1 year low of $12.75 and a 1 year high of $39.37.

DRDGOLD (NYSE:DRD) last posted its earnings results on Wednesday, February 18th. The basic materials company reported $6.74 earnings per share for the quarter. As a group, analysts predict that DRDGOLD will post 13.03 earnings per share for the current year.

Institutional Trading of DRDGOLD

Several institutional investors and hedge funds have recently made changes to their positions in DRD. Arrowstreet Capital Limited Partnership raised its holdings in shares of DRDGOLD by 239.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 989,089 shares of the basic materials company’s stock valued at $27,299,000 after purchasing an additional 697,840 shares during the last quarter. Amundi purchased a new stake in shares of DRDGOLD in the third quarter valued at about $17,467,000. AQR Capital Management LLC grew its position in DRDGOLD by 265.4% during the fourth 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 period. Millennium Management LLC increased its holdings in DRDGOLD by 91.9% during 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, Lazard Asset Management LLC purchased a new stake in DRDGOLD during the fourth quarter worth about $5,351,000. Hedge funds and other institutional investors own 14.70% of the company’s stock.

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.