DRDGOLD (NYSE:DRD) Stock Rating Upgraded by StockNews.com

DRDGOLD (NYSE:DRD) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

DRDGOLD Stock Up 1.6 %

NYSE:DRD opened at $8.51 on Tuesday. The stock’s 50-day simple moving average is $7.80 and its 200 day simple moving average is $8.13. DRDGOLD has a 52-week low of $6.48 and a 52-week high of $13.85.

Institutional Trading of DRDGOLD

A number of hedge funds and other institutional investors have recently modified their holdings of DRD. Envestnet Asset Management Inc. increased its position in DRDGOLD by 37.2% during the first quarter. Envestnet Asset Management Inc. now owns 39,775 shares of the basic materials company’s stock worth $373,000 after buying an additional 10,779 shares during the last quarter. BlackRock Inc. increased its position in DRDGOLD by 2.8% during the first quarter. BlackRock Inc. now owns 511,187 shares of the basic materials company’s stock worth $4,790,000 after buying an additional 14,113 shares during the last quarter. Renaissance Technologies LLC increased its position in DRDGOLD by 5.1% during the second quarter. Renaissance Technologies LLC now owns 1,082,547 shares of the basic materials company’s stock worth $6,355,000 after buying an additional 52,334 shares during the last quarter. Royal Bank of Canada increased its position in DRDGOLD by 1,546.9% during the third quarter. Royal Bank of Canada now owns 23,040 shares of the basic materials company’s stock worth $126,000 after buying an additional 21,641 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in DRDGOLD during the third quarter worth approximately $485,000. Institutional investors and hedge funds own 14.70% of the company’s stock.

DRDGOLD Company Profile

DRDGOLD Limited, a gold mining company, engages in the surface gold tailings retreatment business in South Africa. It also involved in the exploration, extraction, processing, and smelting activities. The company recovers gold from surface tailings in the Witwatersrand basin in Gauteng province. DRDGOLD Limited was formerly known as Durban Roodepoort Deep Limited and changed its name to DRDGOLD Limited in 2004.