DRDGOLD (NYSE:DRD) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research downgraded shares of DRDGOLD (NYSE:DRD) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Several other brokerages have also recently issued reports on DRD. HC Wainwright reissued a “buy” rating and issued a $35.00 price objective on shares of DRDGOLD in a research note on Thursday, July 16th. Wall Street Zen cut DRDGOLD from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of DRDGOLD in a report on Monday. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, DRDGOLD presently has an average rating of “Hold” and an average target price of $35.00.

DRDGOLD Stock Up 6.5%

DRDGOLD stock opened at $22.96 on Tuesday. The stock has a 50 day moving average of $22.29 and a two-hundred day moving average of $28.30. DRDGOLD has a twelve month low of $14.52 and a twelve month high of $39.37.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new position in DRDGOLD during the fourth quarter worth about $42,000. Farther Finance Advisors LLC increased its position in DRDGOLD by 33.5% during the fourth quarter. Farther Finance Advisors LLC now owns 2,256 shares of the basic materials company’s stock worth $70,000 after buying an additional 566 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of DRDGOLD by 11.5% in the second quarter. Osaic Holdings Inc. now owns 6,892 shares of the basic materials company’s stock valued at $92,000 after acquiring an additional 713 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in DRDGOLD during the 3rd quarter worth about $102,000. Finally, Smartleaf Asset Management LLC purchased a new position in DRDGOLD in the 4th quarter valued at about $140,000. Institutional investors and hedge funds own 14.70% of the company’s stock.

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.