DRDGOLD (NYSE:DRD) Shares Gap Down to $8.32

DRDGOLD Limited (NYSE:DRD) gapped down before the market opened on Tuesday . The stock had previously closed at $8.32, but opened at $7.99. DRDGOLD shares last traded at $7.98, with a volume of 83,638 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of DRDGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th.

DRDGOLD Trading Down 4.7 %

The stock’s 50 day moving average price is $7.98 and its 200 day moving average price is $8.13. The firm has a market cap of $685.63 million, a PE ratio of 11.21 and a beta of 1.29.

DRDGOLD Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, March 21st. Investors of record on Friday, March 8th were issued a dividend of $0.1058 per share. This represents a yield of 5%. The ex-dividend date of this dividend was Thursday, March 7th. DRDGOLD’s payout ratio is 22.54%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DRD. AJOVista LLC bought a new stake in shares of DRDGOLD during the 4th quarter valued at about $792,000. Acadian Asset Management LLC grew its position in shares of DRDGOLD by 6.8% during the 3rd quarter. Acadian Asset Management LLC now owns 1,467,309 shares of the basic materials company’s stock valued at $12,161,000 after buying an additional 93,250 shares during the last quarter. Van ECK Associates Corp grew its position in shares of DRDGOLD by 1.2% during the 4th quarter. Van ECK Associates Corp now owns 6,132,581 shares of the basic materials company’s stock valued at $48,754,000 after buying an additional 72,498 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of DRDGOLD during the 4th quarter valued at about $507,000. Finally, Trexquant Investment LP bought a new position in DRDGOLD in the 3rd quarter worth about $320,000. 14.70% of the stock is owned by institutional investors and hedge funds.

DRDGOLD Company Profile

DRDGOLD Limited, a gold mining company, engages in the surface gold tailings retreatment business in South Africa. It also involved in the exploration, extraction, processing, and smelting activities. The company recovers gold from surface tailings in the Witwatersrand basin in Gauteng province. DRDGOLD Limited was formerly known as Durban Roodepoort Deep Limited and changed its name to DRDGOLD Limited in 2004.