DRDGOLD Ltd. (NYSE:DRD)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $4.96, but opened at $5.05. DRDGOLD shares last traded at $5.30, with a volume of 167,475 shares changing hands.
Several equities analysts have weighed in on DRD shares. JPMorgan Chase & Co. downgraded shares of DRDGOLD from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 12th. HSBC cut shares of DRDGOLD from a “buy” rating to a “hold” rating in a research report on Tuesday, August 30th.
The stock’s 50 day moving average is $6.60 and its 200-day moving average is $5.68. The company has a market cap of $232.98 million, a PE ratio of 54.65 and a beta of -0.47.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 27th. Stockholders of record on Friday, October 14th will be issued a dividend of $0.0832 per share. The ex-dividend date is Wednesday, October 12th. This represents a $0.33 annualized dividend and a dividend yield of 6.03%. DRDGOLD’s dividend payout ratio (DPR) is currently 228.59%.
Several institutional investors have recently bought and sold shares of the stock. National Asset Management Inc. bought a new position in DRDGOLD during the second quarter valued at about $106,000. Oxford Asset Management acquired a new position in shares of DRDGOLD during the second quarter valued at $110,000. Emerald Acquisition Ltd. acquired a new position in shares of DRDGOLD during the second quarter valued at $143,000. RS Investment Management Co. LLC acquired a new position in shares of DRDGOLD during the second quarter valued at $176,000. Finally, O Shaughnessy Asset Management LLC increased its position in shares of DRDGOLD by 772.9% in the second quarter. O Shaughnessy Asset Management LLC now owns 34,856 shares of the company’s stock valued at $206,000 after buying an additional 30,863 shares during the period. Hedge funds and other institutional investors own 11.56% of the company’s stock.
DRDGOLD Limited is a surface gold tailings retreatment company. The Company operates in the central Witwatersrand (Wits) basin in Gauteng province and recovers gold from tailings. Ergo Mining Proprietary Limited (Ergo) is the Company’s operating entity. Ergo is a surface retreatment operator. Ergo’s assets cover an area approximately 62 kilometers from east to west and 25 kilometers from north to south.
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