DRDGOLD (NYSE:DRD) Shares Gap Down – Here’s What Happened

DRDGOLD Limited (NYSE:DRD) shares gapped down before the market opened on Monday . The stock had previously closed at $15.58, but opened at $14.16. DRDGOLD shares last traded at $13.90, with a volume of 239,280 shares traded.

Analyst Upgrades and Downgrades

DRD has been the topic of several analyst reports. HC Wainwright reduced their price target on shares of DRDGOLD from $17.25 to $16.25 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. StockNews.com upgraded shares of DRDGOLD from a “hold” rating to a “buy” rating in a research report on Friday, May 2nd.

DRDGOLD Stock Down 11.2%

The business’s 50 day moving average is $14.71 and its two-hundred day moving average is $11.68. The firm has a market cap of $1.20 billion, a P/E ratio of 10.97 and a beta of 0.40.

DRDGOLD Dividend Announcement

The business also recently declared an annual dividend, which was paid on Thursday, March 27th. Shareholders of record on Friday, March 14th were paid a $0.1628 dividend. This represents a yield of 1.8%. The ex-dividend date was Friday, March 14th. DRDGOLD’s dividend payout ratio (DPR) is currently 19.05%.

Institutional Investors Weigh In On DRDGOLD

Several hedge funds and other institutional investors have recently bought and sold shares of DRD. GAMMA Investing LLC boosted its holdings in DRDGOLD by 53.0% during the fourth quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 1,122 shares during the last quarter. QRG Capital Management Inc. bought a new stake in shares of DRDGOLD in the fourth quarter valued at approximately $98,000. JPMorgan Chase & Co. raised its position in shares of DRDGOLD by 11.7% in the third quarter. JPMorgan Chase & Co. now owns 93,206 shares of the basic materials company’s stock valued at $899,000 after purchasing an additional 9,765 shares during the period. Invesco Ltd. increased its holdings in DRDGOLD by 8.1% during the 4th quarter. Invesco Ltd. now owns 266,360 shares of the basic materials company’s stock worth $2,299,000 after acquiring an additional 20,000 shares during the period. Finally, Blue Trust Inc. increased its holdings in DRDGOLD by 41.3% during the 4th quarter. Blue Trust Inc. now owns 51,056 shares of the basic materials company’s stock worth $441,000 after acquiring an additional 14,912 shares during the period. 14.70% of the stock is owned by institutional investors.

About DRDGOLD

DRDGOLD Limited, a gold mining company, engages in the surface gold tailings retreatment business in South Africa. It also involved in the exploration, extraction, processing, and smelting activities. The company recovers gold from surface tailings in the Witwatersrand basin in Gauteng province. DRDGOLD Limited was formerly known as Durban Roodepoort Deep Limited and changed its name to DRDGOLD Limited in 2004.