DRDGOLD (NYSE:DRD) Insider Sells $20,792.75 in Stock

DRDGOLD Limited (NYSE:DRD) insider Kevin Kruger sold 7,561 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $2.75, for a total transaction of $20,792.75. Following the transaction, the insider owned 9,240 shares in the company, valued at $25,410. This represents a 45.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

DRDGOLD Trading Down 3.6%

Shares of DRD stock opened at $28.54 on Friday. The company has a 50 day moving average price of $23.69 and a 200-day moving average price of $27.09. DRDGOLD Limited has a 52 week low of $19.47 and a 52 week high of $39.37.

DRDGOLD (NYSE:DRD) last released its quarterly earnings data on Wednesday, August 19th. The basic materials company reported $0.83 earnings per share for the quarter. The company had revenue of $188.03 million for the quarter. As a group, sell-side analysts anticipate that DRDGOLD Limited will post 3.12 EPS for the current year.

DRDGOLD Dividend Announcement

The business also recently announced a dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 11th will be paid a dividend of $0.7379 per share. The ex-dividend date is Friday, September 11th. This represents a yield of 530.0%.

Institutional Trading of DRDGOLD

Several large investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership increased its holdings in DRDGOLD by 239.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 989,089 shares of the basic materials company’s stock valued at $27,299,000 after buying an additional 697,840 shares during the last quarter. Amundi purchased a new position in shares of DRDGOLD during the 3rd quarter worth $17,467,000. AQR Capital Management LLC boosted its stake in shares of DRDGOLD by 265.4% during the 4th quarter. AQR Capital Management LLC now owns 314,679 shares of the basic materials company’s stock worth $9,758,000 after acquiring an additional 228,561 shares during the last quarter. Millennium Management LLC grew its position in shares of DRDGOLD by 91.9% during the 3rd quarter. Millennium Management LLC now owns 397,000 shares of the basic materials company’s stock valued at $10,957,000 after acquiring an additional 190,152 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in shares of DRDGOLD during the 4th quarter valued at $5,351,000. 14.70% of the stock is currently owned by institutional investors.

Key Stories Impacting DRDGOLD

Here are the key news stories impacting DRDGOLD this week:

• Positive Sentiment: Strong year and gold-market exposure: Mining Weekly characterized the past year as “very good” for DRDGOLD, supporting the view that favorable gold prices and operating performance remain important catalysts for the gold-tailings retreatment company. It’s been a very good year for DRDGOLD
• Positive Sentiment: Dividend and analyst support: DRDGOLD declared a $0.7379-per-share dividend payable September 21 to shareholders of record September 11. HC Wainwright also raised its price target to $35 and maintained a Buy rating, while the reported analyst consensus is Hold with a $35 target.
• Positive Sentiment: Institutional accumulation: Several funds increased their holdings during the second quarter, including JPMorgan, Arrowstreet Capital, Jane Street and Bank of America. Institutional investors collectively own about 14.7% of the company, providing some evidence of continued professional-investor interest.
• Neutral Sentiment: Insider sales followed award vesting: CEO Daniel Pretorius, CFO Henriette Hooijer, COO Jacobus Schoeman and other insiders sold shares on September 1 at an average price of $2.75. The transactions followed deferred-award vesting, so they may represent routine tax or liquidity-related sales rather than a negative change in management’s view of the business. The CEO retained nearly 1 million shares after his sale. DRDGOLD stock gains as insider share sales follow deferred award vesting
• Negative Sentiment: Broad insider selling weighs on sentiment: Nine executives and insiders sold approximately 127,494 shares worth $350,609 in total. Several individuals reduced their positions by roughly 45% to 85%, while Zacks Research downgraded the stock to Strong Sell. The breadth of selling could create near-term concern despite the company’s favorable operating trends. DRDGOLD insider selling report

Analyst Ratings Changes

A number of equities analysts have recently issued reports on DRD shares. Weiss Ratings restated a “buy (b-)” rating on shares of DRDGOLD in a research note on Monday, August 3rd. Wall Street Zen cut DRDGOLD from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. Zacks Research downgraded DRDGOLD from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 4th. Finally, HC Wainwright raised their target price on DRDGOLD from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $35.00.

About DRDGOLD

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.