Quantbot Technologies LP Acquires New Position in DRDGOLD Limited $DRD

Quantbot Technologies LP acquired a new stake in DRDGOLD Limited (NYSE:DRD) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 31,245 shares of the basic materials company’s stock, valued at approximately $862,000.

Other large investors have also modified their holdings of the company. Osaic Holdings Inc. lifted its holdings in shares of DRDGOLD by 11.5% in the 2nd quarter. Osaic Holdings Inc. now owns 6,892 shares of the basic materials company’s stock valued at $92,000 after buying an additional 713 shares during the period. Farther Finance Advisors LLC lifted its holdings in DRDGOLD by 88.2% in the third quarter. Farther Finance Advisors LLC now owns 1,690 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 792 shares during the period. Merit Financial Group LLC lifted its holdings in DRDGOLD by 7.0% in the third quarter. Merit Financial Group LLC now owns 12,277 shares of the basic materials company’s stock valued at $339,000 after acquiring an additional 800 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of DRDGOLD by 24.8% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 5,387 shares of the basic materials company’s stock worth $149,000 after purchasing an additional 1,070 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of DRDGOLD by 26.3% during the 3rd quarter. GAMMA Investing LLC now owns 8,113 shares of the basic materials company’s stock worth $224,000 after purchasing an additional 1,691 shares in the last quarter. 14.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DRD. HC Wainwright increased their price target on shares of DRDGOLD to $46.50 and gave the company a “buy” rating in a report on Friday, January 30th. Wall Street Zen upgraded shares of DRDGOLD from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DRDGOLD in a report on Wednesday, January 21st. Finally, Zacks Research upgraded shares of DRDGOLD from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $46.50.

DRDGOLD Stock Performance

Shares of DRD stock opened at $32.83 on Friday. DRDGOLD Limited has a fifty-two week low of $12.75 and a fifty-two week high of $39.37. The business has a fifty day simple moving average of $34.50 and a 200-day simple moving average of $29.17.

DRDGOLD Announces Dividend

The firm also recently announced a dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, March 13th will be given a dividend of $0.3122 per share. The ex-dividend date is Friday, March 13th. This represents a yield of 174.0%.

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.