DRDGOLD (NYSE:DRD) Stock Price Down 6.4% – Here’s Why

DRDGOLD Limited (NYSE:DRD) dropped 6.4% during mid-day trading on Tuesday. The company traded as low as $24.46 and last traded at $24.8890. Approximately 48,482 shares traded hands during trading, a decline of 84% from the average session volume of 312,292 shares. The stock had previously closed at $26.58.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DRD. Weiss Ratings upgraded shares of DRDGOLD from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 26th. HC Wainwright raised their price target on shares of DRDGOLD from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Finally, Zacks Research upgraded DRDGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, October 19th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

DRDGOLD Price Performance

The business has a 50-day moving average of $25.36 and a 200 day moving average of $27.28.

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

DRDGOLD Dividend Announcement

The company also recently declared a dividend, which was paid on Monday, September 21st. Investors of record on Friday, September 11th were given a dividend of $0.7379 per share. This represents a dividend yield of 551.0%. The ex-dividend date of this dividend was Friday, September 11th.

Insider Buying and Selling at DRDGOLD

In other DRDGOLD news, CEO Daniel Pretorius sold 117,980 shares of the company’s stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $2.44, for a total value of $287,871.20. Following the completion of the sale, the chief executive officer directly owned 1,144,012 shares of the company’s stock, valued at approximately $2,791,389.28. This represents a 9.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Dean Lindecke sold 48,948 shares of the stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $2.44, for a total transaction of $119,433.12. Following the completion of the sale, the insider owned 48,948 shares of the company’s stock, valued at approximately $119,433.12. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 644,448 shares of company stock valued at $1,615,568 in the last quarter. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Kingswood Wealth Advisors LLC purchased a new stake in shares of DRDGOLD during the 3rd quarter valued at $224,000. Sigma Planning Corp purchased a new position in shares of DRDGOLD in the 3rd quarter worth about $199,000. Signaturefd LLC boosted its holdings in shares of DRDGOLD by 27.9% in the 3rd quarter. Signaturefd LLC now owns 4,982 shares of the basic materials company’s stock worth $121,000 after buying an additional 1,086 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new position in DRDGOLD during the third quarter valued at about $240,000. Finally, TD Waterhouse Canada Inc. grew its position in DRDGOLD by 9.7% during the third quarter. TD Waterhouse Canada Inc. now owns 31,343 shares of the basic materials company’s stock valued at $760,000 after buying an additional 2,780 shares during the period. Hedge funds and other institutional investors own 14.70% of the company’s stock.

About DRDGOLD

DRDGOLD Limited is a South African gold producer focused on recovering gold from mine waste rather than operating conventional underground mines. The company reprocesses surface tailings—material left over from earlier mining—to extract gold and reclaim land. Its operations include the Ergo Mining and Far West Gold Recoveries businesses, which work across the historic Witwatersrand gold-mining region around Johannesburg and the West Rand. The recovered gold is refined and sold as bullion. DRDGOLD has shifted its business over time from traditional gold mining toward retreatment of surface deposits.