DRDGOLD (NYSE:DRD) Stock Falls 6.4% – Should You Sell?

DRDGOLD Limited (NYSE:DRD) dropped 6.4% on Tuesday. The company traded as low as $24.46 and last traded at $24.8890. Approximately 48,482 shares traded hands during trading, a decline of 84% from the average session volume of 312,292 shares. The stock had previously closed at $26.58.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DRD. Zacks Research raised DRDGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, October 19th. Weiss Ratings downgraded DRDGOLD from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Finally, HC Wainwright raised their target price on DRDGOLD from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, DRDGOLD presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

DRDGOLD Stock Performance

The firm’s fifty day moving average price is $25.22 and its two-hundred day moving average price is $27.14.

DRDGOLD (NYSE:DRD) last posted 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, sell-side analysts anticipate that DRDGOLD Limited will post 3.12 earnings per share for the current year.

DRDGOLD Dividend Announcement

The company also recently disclosed a dividend, which was paid on Monday, September 21st. Shareholders of record on Friday, September 11th were issued a $0.7379 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a yield of 551.0%.

Insiders Place Their Bets

In other DRDGOLD news, insider Henry Gouws sold 89,160 shares of the company’s stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $2.44, for a total value of $217,550.40. Following the completion of the transaction, the insider owned 3,050 shares in the company, valued at approximately $7,442. This represents a 96.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Dean Lindecke sold 48,948 shares of the stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $2.44, for a total transaction of $119,433.12. Following the sale, the insider directly owned 48,948 shares in the company, valued at approximately $119,433.12. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 644,448 shares of company stock valued at $1,615,568. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On DRDGOLD

Several institutional investors and hedge funds have recently modified their holdings of DRD. Amundi raised its holdings in DRDGOLD by 9.1% in the 1st quarter. Amundi now owns 507,710 shares of the basic materials company’s stock worth $14,911,000 after purchasing an additional 42,342 shares during the period. Renaissance Technologies LLC grew its holdings in DRDGOLD by 58.3% in the first quarter. Renaissance Technologies LLC now owns 349,645 shares of the basic materials company’s stock valued at $10,269,000 after purchasing an additional 128,832 shares during the period. Dimensional Fund Advisors LP grew its holdings in DRDGOLD by 3.1% in the first quarter. Dimensional Fund Advisors LP now owns 169,473 shares of the basic materials company’s stock valued at $4,973,000 after purchasing an additional 5,019 shares during the period. Sei Investments Co. increased its position in shares of DRDGOLD by 60.8% in the first quarter. Sei Investments Co. now owns 79,738 shares of the basic materials company’s stock valued at $2,342,000 after buying an additional 30,137 shares in the last quarter. Finally, Engineers Gate Manager LP increased its position in shares of DRDGOLD by 49.5% in the second quarter. Engineers Gate Manager LP now owns 37,908 shares of the basic materials company’s stock valued at $807,000 after buying an additional 12,556 shares in the last quarter. Hedge funds and other institutional investors own 14.70% of the company’s stock.

About DRDGOLD

DRDGOLD Limited is a South African gold producer focused on recovering gold from mine waste rather than operating conventional underground mines. The company reprocesses surface tailings—material left over from earlier mining—to extract gold and reclaim land. Its operations include the Ergo Mining and Far West Gold Recoveries businesses, which work across the historic Witwatersrand gold-mining region around Johannesburg and the West Rand. The recovered gold is refined and sold as bullion. DRDGOLD has shifted its business over time from traditional gold mining toward retreatment of surface deposits.