DRDGOLD (NYSE:DRD) CEO Daniel Pretorius Sells 35,537 Shares

DRDGOLD Limited (NYSE:DRD) CEO Daniel Pretorius sold 35,537 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $2.75, for a total value of $97,726.75. Following the sale, the chief executive officer owned 999,816 shares of the company’s stock, valued at approximately $2,749,494. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

DRDGOLD Stock Up 4.9%

DRD stock opened at $29.69 on Friday. DRDGOLD Limited has a 52 week low of $19.47 and a 52 week high of $39.37. The business has a 50-day simple moving average of $23.54 and a 200 day simple moving average of $27.08.

DRDGOLD (NYSE:DRD) last released its earnings results on Wednesday, August 19th. The basic materials company reported $0.83 EPS for the quarter. The firm had revenue of $188.03 million during the quarter. As a group, research analysts forecast that DRDGOLD Limited will post 3.12 EPS for the current fiscal year.

DRDGOLD Announces Dividend

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

Institutional Investors Weigh In On DRDGOLD

Hedge funds have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership grew its position in DRDGOLD by 239.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 989,089 shares of the basic materials company’s stock worth $27,299,000 after acquiring an additional 697,840 shares during the last quarter. Amundi bought a new position in DRDGOLD in the third quarter valued at about $17,467,000. AQR Capital Management LLC boosted its stake in shares of DRDGOLD by 265.4% during the fourth quarter. AQR Capital Management LLC now owns 314,679 shares of the basic materials company’s stock valued at $9,758,000 after purchasing an additional 228,561 shares in the last quarter. Millennium Management LLC grew its holdings in shares of DRDGOLD by 91.9% during the third quarter. Millennium Management LLC now owns 397,000 shares of the basic materials company’s stock worth $10,957,000 after purchasing an additional 190,152 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of DRDGOLD during the fourth quarter worth about $5,351,000. Institutional investors and hedge funds own 14.70% of the company’s stock.

More DRDGOLD News

Here are the key news stories impacting DRDGOLD this week:

• Positive Sentiment: A Mining Weekly article describes the past year as “very good” for DRDGOLD, reinforcing the view that strong gold-market conditions and the company’s operating performance have supported investor interest. It’s been a very good year for DRDGOLD
• Negative Sentiment: Multiple executives and insiders collectively sold 139,080 shares for approximately $382,471 at an average price of $2.75 on September 1. The sales included CEO Daniel Pretorius, CFO Henriette Hooijer, COO Jacobus Schoeman and several other insiders. While these transactions may reflect scheduled or personal portfolio decisions rather than a change in company fundamentals, their breadth—and several large reductions in individual holdings—could pressure sentiment and limit the stock’s upside in the near term. SEC insider transaction filings

Wall Street Analysts Forecast Growth

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