DRDGOLD (NYSE:DRD) Stock: Insider Dean Lindecke Sells 48,948 Shares

DRDGOLD Limited (NYSE:DRD) insider Dean Lindecke sold 48,948 shares of DRDGOLD stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $2.44, for a total value of $119,433.12. Following the completion of the sale, the insider owned 48,948 shares in the company, valued at approximately $119,433.12. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Dean Lindecke also recently made the following trade(s):

• On Tuesday, September 1st, Dean Lindecke sold 20,060 shares of DRDGOLD stock. The shares were sold at an average price of $2.75, for a total value of $55,165.00.

DRDGOLD Stock Performance

Shares of DRDGOLD stock opened at $24.25 on Friday. The business has a 50 day moving average of $26.20 and a 200 day moving average of $27.67. DRDGOLD Limited has a 52 week low of $19.47 and a 52 week high of $39.37.

DRDGOLD (NYSE:DRD) last released 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 during the quarter. As a group, equities research analysts forecast that DRDGOLD Limited will post 3.12 EPS for the current fiscal year.

DRDGOLD Dividend Announcement

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

Institutional Trading of DRDGOLD

A number of hedge funds have recently modified their holdings of the business. Kingswood Wealth Advisors LLC purchased a new stake in shares of DRDGOLD in the 3rd quarter worth about $224,000. Sigma Planning Corp bought a new position in shares of DRDGOLD in the 3rd quarter worth about $199,000. Signaturefd LLC lifted its position in DRDGOLD by 27.9% during the 3rd quarter. Signaturefd LLC now owns 4,982 shares of the basic materials company’s stock valued at $121,000 after acquiring an additional 1,086 shares during the period. Fifth Third Wealth Advisors LLC purchased a new position in DRDGOLD during the 3rd quarter valued at about $240,000. Finally, TD Waterhouse Canada Inc. lifted its position in DRDGOLD by 9.7% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 31,343 shares of the basic materials company’s stock valued at $760,000 after acquiring an additional 2,780 shares during the period. Institutional investors own 14.70% of the company’s stock.

Key Headlines Impacting DRDGOLD

Here are the key news stories impacting DRDGOLD this week:

• Positive Sentiment: Analyst sentiment remains generally favorable. DRDGOLD has a consensus rating of “Moderate Buy,” with a reported average price target of $35.00, while HC Wainwright raised its target to $35 from $33. HC Wainwright analyst report
• Positive Sentiment: Several institutional investors increased their DRDGOLD positions, including Renaissance Technologies, Amundi, Sei Investments, U.S. Global Investors and Y Intercept Hong Kong. This suggests some longer-term institutional confidence, although institutions own only about 14.7% of the shares.
• Neutral Sentiment: DRDGOLD announced the vesting of long-term incentive awards and a pooled sale of 510,105 shares. Because the transaction appears connected to vested compensation awards, some of the selling may reflect automatic liquidity, tax or compensation-related activity rather than a deterioration in business expectations. DRDGOLD vesting and pooled sale announcement
• Negative Sentiment: A broad group of executives and insiders sold shares acquired or held at approximately $2.44 per share. The transactions totaled roughly 505,000 shares and $1.23 million, including sales by CEO Daniel Pretorius, CFO Henriette Hooijer and COO Jacobus Schoeman. Other insiders reduced their holdings by 50% or more; Henry Gouws cut his position by nearly 97% and Kevin Kruger by nearly 89%. The breadth of the selling creates a substantial supply overhang and may raise concerns about insider confidence. DRDGOLD insider selling report
• Negative Sentiment: The shares are trading below both their 50-day and 200-day moving averages, indicating weakened technical momentum. Investors may therefore focus more heavily on whether the insider transactions signal additional selling pressure.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DRD shares. Wall Street Zen lowered shares of DRDGOLD from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 4th. HC Wainwright increased their price target on shares of DRDGOLD from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Zacks Research upgraded shares of DRDGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, October 19th. Finally, Weiss Ratings upgraded shares of DRDGOLD from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.00.

DRDGOLD Company Profile

DRDGOLD Limited is a South African gold producer focused on the retreatment of surface mine waste. Rather than operating conventional underground mines, the company processes gold-bearing tailings, sand dumps and slimes dams left by historical mining activities, recovering gold and reducing the environmental footprint of legacy mine waste.

DRDGOLD’s principal operations are the Ergo and Far West Gold Recoveries (FWGR) businesses. Ergo processes surface material from areas around Johannesburg and the East Rand, while FWGR operates on the West Rand and Far West Rand.