DRDGOLD Limited (NYSE:DRD) Short Interest Down 20.9% in December

DRDGOLD Limited (NYSE:DRD) saw a significant drop in short interest in December. As of December 31st, there was short interest totaling 493,968 shares, a drop of 20.9% from the December 15th total of 624,355 shares. Approximately 0.6% of the company’s shares are short sold. Based on an average trading volume of 424,648 shares, the short-interest ratio is currently 1.2 days. Based on an average trading volume of 424,648 shares, the short-interest ratio is currently 1.2 days. Approximately 0.6% of the company’s shares are short sold.

Institutional Investors Weigh In On DRDGOLD

A number of large investors have recently bought and sold shares of the company. Savant Capital LLC acquired a new position in DRDGOLD in the 2nd quarter valued at about $182,000. GAMMA Investing LLC lifted its position in shares of DRDGOLD by 29.7% during the second quarter. GAMMA Investing LLC now owns 6,422 shares of the basic materials company’s stock worth $86,000 after purchasing an additional 1,469 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of DRDGOLD in the second quarter valued at approximately $2,505,000. Kiker Wealth Management LLC acquired a new position in shares of DRDGOLD in the second quarter valued at approximately $142,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of DRDGOLD in the second quarter valued at approximately $291,000. Hedge funds and other institutional investors own 14.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DRD. Weiss Ratings restated a “buy (b)” rating on shares of DRDGOLD in a research report on Wednesday, October 8th. HC Wainwright lifted their price objective on DRDGOLD to $36.25 and gave the company a “buy” rating in a report on Friday, October 17th. Wall Street Zen lowered DRDGOLD from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 3rd. Finally, Zacks Research upgraded shares of DRDGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, DRDGOLD has an average rating of “Moderate Buy” and an average target price of $36.25.

DRDGOLD Price Performance

Shares of DRD stock traded up $1.40 during trading hours on Tuesday, reaching $37.64. 413,617 shares of the company’s stock were exchanged, compared to its average volume of 322,059. DRDGOLD has a 1 year low of $9.51 and a 1 year high of $38.20. The stock’s fifty day moving average price is $30.75 and its two-hundred day moving average price is $24.36.

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.