DRDGOLD (NYSE:DRD) CFO Henriette Hooijer Sells 8,313 Shares of Stock

DRDGOLD Limited (NYSE:DRD) CFO Henriette Hooijer sold 8,313 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $2.75, for a total value of $22,860.75. Following the completion of the transaction, the chief financial officer owned 172,099 shares in the company, valued at $473,272.25. This trade represents a 4.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

DRDGOLD Price Performance

NYSE:DRD opened at $29.69 on Friday. DRDGOLD Limited has a 12-month low of $19.47 and a 12-month high of $39.37. The stock’s 50 day simple moving average is $23.54 and its 200-day simple moving average is $27.08.

DRDGOLD (NYSE:DRD) last issued its quarterly earnings results on Wednesday, August 19th. The basic materials company reported $0.83 earnings per share for the quarter. The company had revenue of $188.03 million for the quarter. On average, analysts forecast that DRDGOLD Limited will post 3.12 earnings per share for the current year.

DRDGOLD Announces Dividend

The company also recently announced a dividend, which will be paid on Monday, September 21st. Stockholders 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 is Friday, September 11th.

Hedge Funds Weigh In On DRDGOLD

Hedge funds and other institutional investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership boosted its position 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 worth $27,299,000 after purchasing an additional 697,840 shares in the last quarter. Amundi purchased a new position in shares of DRDGOLD in the third quarter valued at $17,467,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of DRDGOLD by 1.2% in the third 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 buying an additional 6,740 shares in 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 buying an additional 190,152 shares during the last quarter. 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 buying an additional 90,863 shares during the last quarter. 14.70% of the stock is owned by institutional investors and hedge funds.

Key DRDGOLD News

Here are the key news stories impacting DRDGOLD this week:

• Positive Sentiment: A Mining Weekly article describes the past year as “very good” for DRDGOLD, reinforcing the view that strong gold-market conditions and the company’s operating performance have supported investor interest. It’s been a very good year for DRDGOLD
• Negative Sentiment: Multiple executives and insiders collectively sold 139,080 shares for approximately $382,471 at an average price of $2.75 on September 1. The sales included CEO Daniel Pretorius, CFO Henriette Hooijer, COO Jacobus Schoeman and several other insiders. While these transactions may reflect scheduled or personal portfolio decisions rather than a change in company fundamentals, their breadth—and several large reductions in individual holdings—could pressure sentiment and limit the stock’s upside in the near term. SEC insider transaction filings

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of DRDGOLD in a research note on Monday, August 3rd. Wall Street Zen downgraded shares of DRDGOLD from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. HC Wainwright lifted their price objective on DRDGOLD from $33.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Finally, Zacks Research cut DRDGOLD from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, DRDGOLD currently has a consensus rating of “Hold” and a consensus price target of $35.00.

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.