Van ECK Associates Corp Raises Stock Holdings in DRDGOLD Limited (NYSE:DRD)

Van ECK Associates Corp boosted its holdings in shares of DRDGOLD Limited (NYSE:DRD) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,132,581 shares of the basic materials company’s stock after purchasing an additional 72,498 shares during the quarter. Van ECK Associates Corp owned approximately 7.09% of DRDGOLD worth $48,754,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DRD. Systematic Alpha Investments LLC purchased a new position in DRDGOLD during the third quarter worth approximately $53,000. Mutual Advisors LLC purchased a new position in shares of DRDGOLD in the fourth quarter valued at approximately $102,000. SG Americas Securities LLC lifted its position in shares of DRDGOLD by 36.4% in the third quarter. SG Americas Securities LLC now owns 23,751 shares of the basic materials company’s stock valued at $197,000 after acquiring an additional 6,341 shares in the last quarter. Jump Financial LLC purchased a new position in shares of DRDGOLD in the third quarter valued at approximately $247,000. Finally, Trexquant Investment LP purchased a new position in shares of DRDGOLD in the third quarter valued at approximately $320,000. Hedge funds and other institutional investors own 14.70% of the company’s stock.

DRDGOLD Price Performance

Shares of NYSE:DRD traded down $0.35 during midday trading on Tuesday, hitting $7.97. The company had a trading volume of 153,641 shares, compared to its average volume of 337,351. DRDGOLD Limited has a twelve month low of $6.48 and a twelve month high of $13.85. The business’s 50-day simple moving average is $7.98 and its 200-day simple moving average is $8.13.

DRDGOLD Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, March 21st. Investors of record on Friday, March 8th were issued a $0.1058 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a dividend yield of 5%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded DRDGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th.

About DRDGOLD

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.