DRDGOLD (NYSE:DRD) Shares Gap Down – Time to Sell?

DRDGOLD Limited (NYSE:DRD)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $35.65, but opened at $33.28. DRDGOLD shares last traded at $32.3930, with a volume of 138,158 shares.

Analysts Set New Price Targets

A number of research firms have commented on DRD. Zacks Research upgraded DRDGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, November 24th. Wall Street Zen downgraded DRDGOLD from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 3rd. HC Wainwright increased their target price on DRDGOLD to $46.50 and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of DRDGOLD in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, DRDGOLD currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

DRDGOLD Trading Down 7.6%

The company has a 50 day moving average of $33.44 and a 200 day moving average of $27.37.

Institutional Trading of DRDGOLD

Large investors have recently made changes to their positions in the company. Savant Capital LLC purchased a new stake in shares of DRDGOLD in the 2nd quarter valued at approximately $182,000. Rockefeller Capital Management L.P. purchased a new position in DRDGOLD in the second quarter valued at $2,505,000. Y Intercept Hong Kong Ltd acquired a new stake in DRDGOLD in the third quarter valued at $952,000. Acadian Asset Management LLC lifted its holdings in DRDGOLD by 35.9% during the 2nd quarter. Acadian Asset Management LLC now owns 180,847 shares of the basic materials company’s stock worth $2,407,000 after buying an additional 47,759 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of DRDGOLD by 9.7% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 564,067 shares of the basic materials company’s stock worth $7,519,000 after acquiring an additional 49,868 shares in the last quarter. 14.70% of the stock is currently owned by hedge funds and other institutional investors.

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.