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

DRDGOLD Limited (NYSE:DRD) gapped down before the market opened on Tuesday . The stock had previously closed at $16.20, but opened at $15.86. DRDGOLD shares last traded at $15.87, with a volume of 124,344 shares changing hands.

Analyst Ratings Changes

DRD has been the subject of several recent research reports. HC Wainwright dropped their price target on DRDGOLD from $17.25 to $16.25 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Wall Street Zen cut DRDGOLD from a “strong-buy” rating to a “buy” rating in a research note on Sunday.

DRDGOLD Trading Down 2.2%

The company has a market capitalization of $1.35 billion, a PE ratio of 12.44 and a beta of 0.40. The business’s fifty day moving average is $15.09 and its two-hundred day moving average is $12.16.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Aquatic Capital Management LLC purchased a new stake in shares of DRDGOLD during the fourth quarter valued at $25,000. Banque Cantonale Vaudoise bought a new stake in shares of DRDGOLD in the first quarter worth approximately $39,000. Brooklyn Investment Group grew its stake in shares of DRDGOLD by 769.7% in the first quarter. Brooklyn Investment Group now owns 4,105 shares of the basic materials company’s stock worth $64,000 after acquiring an additional 3,633 shares during the period. GAMMA Investing LLC raised its holdings in shares of DRDGOLD by 52.9% during the first quarter. GAMMA Investing LLC now owns 4,953 shares of the basic materials company’s stock valued at $77,000 after purchasing an additional 1,713 shares during the last quarter. Finally, QRG Capital Management Inc. bought a new position in DRDGOLD during the fourth quarter valued at approximately $98,000. Hedge funds and other institutional investors own 14.70% of the company’s stock.

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.