Mpho Mashatola Sells 5,275 Shares of DRDGOLD (NYSE:DRD) Stock

DRDGOLD Limited (NYSE:DRD) insider Mpho Mashatola sold 5,275 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $2.75, for a total value of $14,506.25. Following the transaction, the insider directly owned 39,868 shares in the company, valued at approximately $109,637. The trade was a 11.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

DRDGOLD Stock Performance

Shares of DRDGOLD stock opened at $28.54 on Friday. The business has a 50-day moving average of $23.69 and a 200 day moving average of $27.09. DRDGOLD Limited has a 12 month low of $19.47 and a 12 month high of $39.37.

DRDGOLD (NYSE:DRD) last released its earnings results on Wednesday, August 19th. The basic materials company reported $0.83 earnings per share for the quarter. The firm had revenue of $188.03 million during the quarter. Research analysts predict that DRDGOLD Limited will post 3.12 EPS for the current year.

DRDGOLD Dividend Announcement

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

Institutional Trading of DRDGOLD

Hedge funds have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new position in DRDGOLD in the fourth quarter worth approximately $42,000. Farther Finance Advisors LLC grew its holdings in DRDGOLD by 33.5% during the 4th quarter. Farther Finance Advisors LLC now owns 2,256 shares of the basic materials company’s stock worth $70,000 after acquiring an additional 566 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in DRDGOLD during the 3rd quarter worth approximately $102,000. Smartleaf Asset Management LLC purchased a new stake in shares of DRDGOLD in the 4th quarter valued at approximately $140,000. Finally, SG Americas Securities LLC purchased a new stake in shares of DRDGOLD in the 1st quarter valued at approximately $154,000. Institutional investors and hedge funds own 14.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of DRDGOLD in a research report on Monday, August 3rd. Wall Street Zen lowered DRDGOLD from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. HC Wainwright lifted their target price 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 note on Tuesday, August 4th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $35.00.

More DRDGOLD News

Here are the key news stories impacting DRDGOLD this week:

• Positive Sentiment: Strong year and gold-market exposure: Mining Weekly characterized the past year as “very good” for DRDGOLD, supporting the view that favorable gold prices and operating performance remain important catalysts for the gold-tailings retreatment company. It’s been a very good year for DRDGOLD
• Positive Sentiment: Dividend and analyst support: DRDGOLD declared a $0.7379-per-share dividend payable September 21 to shareholders of record September 11. HC Wainwright also raised its price target to $35 and maintained a Buy rating, while the reported analyst consensus is Hold with a $35 target.
• Positive Sentiment: Institutional accumulation: Several funds increased their holdings during the second quarter, including JPMorgan, Arrowstreet Capital, Jane Street and Bank of America. Institutional investors collectively own about 14.7% of the company, providing some evidence of continued professional-investor interest.
• Neutral Sentiment: Insider sales followed award vesting: CEO Daniel Pretorius, CFO Henriette Hooijer, COO Jacobus Schoeman and other insiders sold shares on September 1 at an average price of $2.75. The transactions followed deferred-award vesting, so they may represent routine tax or liquidity-related sales rather than a negative change in management’s view of the business. The CEO retained nearly 1 million shares after his sale. DRDGOLD stock gains as insider share sales follow deferred award vesting
• Negative Sentiment: Broad insider selling weighs on sentiment: Nine executives and insiders sold approximately 127,494 shares worth $350,609 in total. Several individuals reduced their positions by roughly 45% to 85%, while Zacks Research downgraded the stock to Strong Sell. The breadth of selling could create near-term concern despite the company’s favorable operating trends. DRDGOLD insider selling report

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.