ABC Arbitrage SA Has $1.41 Million Position in DRDGOLD Limited $DRD

ABC Arbitrage SA lessened its stake in DRDGOLD Limited (NYSE:DRD) by 62.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 47,983 shares of the basic materials company’s stock after selling 79,050 shares during the period. ABC Arbitrage SA’s holdings in DRDGOLD were worth $1,409,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of DRD. Banque Cantonale Vaudoise bought a new stake in shares of DRDGOLD during the fourth quarter worth $42,000. Farther Finance Advisors LLC boosted its holdings in DRDGOLD by 33.5% in the fourth quarter. Farther Finance Advisors LLC now owns 2,256 shares of the basic materials company’s stock valued at $70,000 after acquiring an additional 566 shares during the last quarter. BNP Paribas Financial Markets bought a new position in DRDGOLD in the third quarter valued at about $102,000. Blue Trust Inc. increased its position in DRDGOLD by 21.8% in the fourth quarter. Blue Trust Inc. now owns 4,476 shares of the basic materials company’s stock worth $139,000 after purchasing an additional 800 shares during the period. Finally, Smartleaf Asset Management LLC acquired a new stake in DRDGOLD in the fourth quarter worth about $140,000. 14.70% of the stock is currently owned by institutional investors.

DRDGOLD Stock Down 1.3%

Shares of NYSE:DRD opened at $20.83 on Tuesday. The company has a 50 day moving average price of $24.61 and a two-hundred day moving average price of $29.70. DRDGOLD Limited has a 52 week low of $13.25 and a 52 week high of $39.37.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wall Street Zen cut DRDGOLD from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. Weiss Ratings lowered shares of DRDGOLD from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Finally, Zacks Research cut shares of DRDGOLD from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, DRDGOLD has a consensus rating of “Moderate Buy” and an average price target of $46.50.

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.