Wall Street Zen Downgrades DRDGOLD (NYSE:DRD) to Buy

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

A number of other analysts have also weighed in on the stock. Weiss Ratings lowered shares of DRDGOLD from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. Zacks Research upgraded DRDGOLD from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $46.50.

DRDGOLD Stock Down 0.2%

Shares of DRDGOLD stock opened at $21.85 on Friday. The firm’s 50 day moving average is $25.42 and its 200 day moving average is $30.14. DRDGOLD has a 1 year low of $13.17 and a 1 year high of $39.37.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DRD. Banque Cantonale Vaudoise acquired a new stake in DRDGOLD during the 4th quarter worth approximately $42,000. Farther Finance Advisors LLC grew its holdings in DRDGOLD by 33.5% during the 4th quarter. Farther Finance Advisors LLC now owns 2,256 shares of the basic materials company’s stock worth $70,000 after acquiring an additional 566 shares during the last quarter. Osaic Holdings Inc. increased its position in DRDGOLD by 11.5% in the 2nd quarter. Osaic Holdings Inc. now owns 6,892 shares of the basic materials company’s stock valued at $92,000 after acquiring an additional 713 shares during the period. BNP Paribas Financial Markets acquired a new position in DRDGOLD in the 3rd quarter valued at approximately $102,000. Finally, Blue Trust Inc. raised its stake in shares of DRDGOLD by 21.8% during the fourth quarter. Blue Trust Inc. now owns 4,476 shares of the basic materials company’s stock valued at $139,000 after acquiring an additional 800 shares during the last quarter. 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.