DRDGOLD Limited (NYSE:DRD) Short Interest Down 29.7% in December

DRDGOLD Limited (NYSE:DRD) was the recipient of a significant decrease in short interest in the month of December. As of December 15th, there was short interest totaling 624,355 shares, a decrease of 29.7% from the November 30th total of 887,697 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average trading volume of 417,847 shares, the days-to-cover ratio is presently 1.5 days. Based on an average trading volume of 417,847 shares, the days-to-cover ratio is presently 1.5 days. Approximately 0.7% of the shares of the company are short sold.

Institutional Trading of DRDGOLD

Institutional investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership grew 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 valued at $27,299,000 after acquiring an additional 697,840 shares in the last quarter. Amundi acquired a new position in DRDGOLD in the 3rd quarter worth $17,467,000. Millennium Management LLC boosted its position in DRDGOLD by 91.9% in the 3rd quarter. Millennium Management LLC now owns 397,000 shares of the basic materials company’s stock valued at $10,957,000 after buying an additional 190,152 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new stake in shares of DRDGOLD during the second quarter worth about $2,505,000. Finally, Acadian Asset Management LLC acquired a new position in shares of DRDGOLD in the first quarter worth about $2,055,000. 14.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DRD has been the subject of several recent analyst reports. Zacks Research raised shares of DRDGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. Wall Street Zen upgraded DRDGOLD from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 20th. Weiss Ratings restated a “buy (b)” rating on shares of DRDGOLD in a report on Wednesday, October 8th. Finally, HC Wainwright upped their target price on shares of DRDGOLD to $36.25 and gave the stock a “buy” rating in a report on Friday, October 17th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, DRDGOLD currently has an average rating of “Moderate Buy” and a consensus price target of $36.25.

DRDGOLD Price Performance

DRDGOLD stock traded down $2.79 during midday trading on Monday, reaching $30.54. The company’s stock had a trading volume of 514,763 shares, compared to its average volume of 409,697. The stock’s 50 day simple moving average is $28.41 and its 200 day simple moving average is $22.33. DRDGOLD has a fifty-two week low of $8.38 and a fifty-two week high of $34.80.

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.