DRDGOLD (NYSE:DRD) Insider Lihan Laas Sells 9,029 Shares

DRDGOLD Limited (NYSE:DRD) insider Lihan Laas sold 9,029 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $2.75, for a total value of $24,829.75. Following the completion of the transaction, the insider owned 9,029 shares in the company, valued at approximately $24,829.75. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

DRDGOLD Stock Up 4.9%

DRDGOLD stock traded up $1.39 during mid-day trading on Thursday, reaching $29.69. 302,032 shares of the stock traded hands, compared to its average volume of 330,681. DRDGOLD Limited has a 12-month low of $19.47 and a 12-month high of $39.37. The business’s 50-day moving average is $23.38 and its 200-day moving average is $27.12.

DRDGOLD (NYSE:DRD) last released its quarterly earnings results on Wednesday, August 19th. The basic materials company reported $0.83 earnings per share (EPS) for the quarter. The firm had revenue of $188.03 million for the quarter. As a group, sell-side analysts predict that DRDGOLD Limited will post 3.12 EPS for the current year.

DRDGOLD Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Monday, September 21st. Investors of record on Friday, September 11th will be paid a dividend of $0.7379 per share. The ex-dividend date is Friday, September 11th. This represents a dividend yield of 530.0%.

Hedge Funds Weigh In On DRDGOLD

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership increased its holdings in 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 buying an additional 697,840 shares during the period. Amundi purchased a new stake in DRDGOLD during the third quarter worth $17,467,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in DRDGOLD by 1.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 570,807 shares of the basic materials company’s stock worth $15,754,000 after buying an additional 6,740 shares during the period. Millennium Management LLC boosted its position in DRDGOLD by 91.9% during the 3rd 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, Marshall Wace LLP boosted its position in DRDGOLD by 30.2% during the fourth quarter. Marshall Wace LLP now owns 391,702 shares of the basic materials company’s stock valued at $12,147,000 after purchasing an additional 90,863 shares in the last quarter. 14.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on DRD shares. HC Wainwright increased their price target on shares of DRDGOLD from $33.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of DRDGOLD in a research report on Monday, August 3rd. Zacks Research lowered DRDGOLD from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 4th. Finally, Wall Street Zen downgraded DRDGOLD from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, DRDGOLD has a consensus rating of “Hold” and an average price target of $35.00.

About DRDGOLD

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.