Insider Selling: DRDGOLD (NYSE:DRD) Insider Sells $24,829.75 in Stock

DRDGOLD Limited (NYSE:DRD) insider Lihan Laas sold 9,029 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $2.75, for a total value of $24,829.75. Following the completion of the transaction, the insider directly owned 9,029 shares in the company, valued at approximately $24,829.75. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

DRDGOLD Stock Down 3.6%

Shares of NYSE DRD opened at $28.54 on Friday. DRDGOLD Limited has a twelve month low of $19.47 and a twelve month high of $39.37. The business has a fifty day simple moving average of $23.69 and a two-hundred day simple moving average of $27.09.

DRDGOLD (NYSE:DRD) last posted its quarterly earnings results 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, sell-side analysts expect that DRDGOLD Limited will post 3.12 EPS for the current year.

DRDGOLD Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DRD. Zacks Research lowered DRDGOLD from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of DRDGOLD in a report on Monday, August 3rd. Wall Street Zen cut DRDGOLD from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 4th. Finally, HC Wainwright lifted their target price on DRDGOLD from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $35.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its position in DRDGOLD by 58.3% during the 1st quarter. Renaissance Technologies LLC now owns 349,645 shares of the basic materials company’s stock worth $10,269,000 after purchasing an additional 128,832 shares during the period. Amundi lifted its holdings in shares of DRDGOLD by 9.1% in the 1st quarter. Amundi now owns 507,710 shares of the basic materials company’s stock valued at $14,911,000 after buying an additional 42,342 shares during the period. Bank of America Corp DE lifted its holdings in shares of DRDGOLD by 111.3% in the 1st quarter. Bank of America Corp DE now owns 34,630 shares of the basic materials company’s stock valued at $1,017,000 after buying an additional 18,241 shares during the period. ABC Arbitrage SA boosted its stake in shares of DRDGOLD by 107.2% in the fourth quarter. ABC Arbitrage SA now owns 127,033 shares of the basic materials company’s stock worth $3,939,000 after buying an additional 65,729 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of DRDGOLD by 60.8% in the first quarter. Sei Investments Co. now owns 79,738 shares of the basic materials company’s stock worth $2,342,000 after buying an additional 30,137 shares during the last quarter. 14.70% of the stock is currently owned by institutional investors and hedge funds.

Key DRDGOLD News

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

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.