DRDGOLD (NYSE:DRD) Rating Increased to Strong-Buy at 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 note issued to investors on Sunday.

DRD has been the subject of a number of other research reports. Zacks Research raised shares of DRDGOLD from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 29th. 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 investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $46.50.

DRDGOLD Price Performance

DRD opened at $26.54 on Friday. The business’s fifty day moving average is $28.65 and its 200-day moving average is $31.11. DRDGOLD has a 52-week low of $12.75 and a 52-week high of $39.37.

DRDGOLD (NYSE:DRD) last released its earnings results on Wednesday, February 18th. The basic materials company reported $6.74 earnings per share for the quarter. On average, research analysts expect that DRDGOLD will post 3.78 earnings per share for the current year.

Institutional Investors Weigh In On DRDGOLD

Several hedge funds and other institutional investors have recently modified their holdings of DRD. Arrowstreet Capital Limited Partnership increased its holdings in shares of DRDGOLD by 239.6% during 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 acquiring an additional 697,840 shares in the last quarter. Amundi bought a new stake in shares of DRDGOLD during the third quarter valued at approximately $17,467,000. AQR Capital Management LLC increased its holdings in shares of 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 acquiring an additional 228,561 shares in the last quarter. Millennium Management LLC increased its holdings in shares of DRDGOLD by 91.9% during the third quarter. Millennium Management LLC now owns 397,000 shares of the basic materials company’s stock valued at $10,957,000 after acquiring an additional 190,152 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of DRDGOLD during the fourth quarter valued at approximately $5,351,000. 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.