DRDGOLD (NYSE:DRD) Shares Gap Down to $8.55

Shares of DRDGOLD Limited (NYSE:DRD) gapped down prior to trading on Monday . The stock had previously closed at $8.55, but opened at $8.03. DRDGOLD shares last traded at $8.05, with a volume of 189,002 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of DRDGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th.

DRDGOLD Stock Performance

The firm has a 50 day moving average price of $7.87 and a 200 day moving average price of $8.14.

DRDGOLD Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, March 8th were given a dividend of $0.1058 per share. This represents a yield of 5%. The ex-dividend date was Thursday, March 7th.

Institutional Investors Weigh In On DRDGOLD

Several hedge funds have recently modified their holdings of DRD. Tower Research Capital LLC TRC increased its holdings in DRDGOLD by 317,900.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,180 shares of the basic materials company’s stock valued at $25,000 after buying an additional 3,179 shares during the period. Systematic Alpha Investments LLC purchased a new position in shares of DRDGOLD in the 3rd quarter valued at $53,000. Mutual Advisors LLC bought a new position in shares of DRDGOLD in the 4th quarter worth $102,000. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of DRDGOLD during the 1st quarter worth $131,000. Finally, SG Americas Securities LLC boosted its position in DRDGOLD by 36.4% during the third quarter. SG Americas Securities LLC now owns 23,751 shares of the basic materials company’s stock valued at $197,000 after purchasing an additional 6,341 shares in the last quarter. Hedge funds and other institutional investors 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.