DRDGOLD (NYSE:DRD) Insider Sells 5,490 Shares of Stock

DRDGOLD Limited (NYSE:DRD) insider Ryno Bornman sold 5,490 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $2.75, for a total value of $15,097.50. Following the completion of the sale, the insider directly owned 6,708 shares of the company’s stock, valued at $18,447. This trade represents a 45.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

DRDGOLD Trading Up 4.9%

Shares of NYSE DRD traded up $1.39 during midday trading on Thursday, hitting $29.69. 302,032 shares of the stock traded hands, compared to its average volume of 330,681. DRDGOLD Limited has a one year low of $19.47 and a one year high of $39.37. The business has a 50 day moving average price of $23.38 and a two-hundred day moving average price of $27.12.

DRDGOLD (NYSE:DRD) last issued its 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 during the quarter. As a group, equities analysts expect that DRDGOLD Limited will post 3.12 earnings per share for the current fiscal year.

DRDGOLD Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of DRDGOLD

A number of institutional investors and hedge funds have recently modified their holdings of DRD. Arrowstreet Capital Limited Partnership boosted its position in DRDGOLD by 239.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 989,089 shares of the basic materials company’s stock worth $27,299,000 after purchasing an additional 697,840 shares during the last quarter. Amundi purchased a new stake in shares of DRDGOLD during the 3rd quarter valued at $17,467,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of DRDGOLD by 1.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 570,807 shares of the basic materials company’s stock valued at $15,754,000 after purchasing an additional 6,740 shares during the last quarter. Millennium Management LLC raised its stake in shares of DRDGOLD by 91.9% during the 3rd quarter. Millennium Management LLC now owns 397,000 shares of the basic materials company’s stock worth $10,957,000 after purchasing an additional 190,152 shares during the period. Finally, Marshall Wace LLP raised its stake in shares of DRDGOLD by 30.2% during the 4th quarter. Marshall Wace LLP now owns 391,702 shares of the basic materials company’s stock worth $12,147,000 after purchasing an additional 90,863 shares during the period. 14.70% of the stock is owned by hedge funds and other institutional investors.

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.