DRDGOLD (NYSE:DRD) Shares Gap Up – Here’s What Happened

DRDGOLD Limited (NYSE:DRD)’s share price gapped up before the market opened on Friday . The stock had previously closed at $8.74, but opened at $8.92. DRDGOLD shares last traded at $8.97, with a volume of 44,932 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on DRD shares. StockNews.com cut DRDGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. HC Wainwright reissued a “buy” rating and set a $13.25 price target on shares of DRDGOLD in a research report on Friday, October 18th.

DRDGOLD Stock Performance

The firm’s fifty day moving average price is $10.38 and its 200 day moving average price is $9.56. The firm has a market cap of $759.97 million, a P/E ratio of 8.29 and a beta of 1.05.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. American Century Companies Inc. grew its position in shares of DRDGOLD by 36.8% in the 2nd quarter. American Century Companies Inc. now owns 679,600 shares of the basic materials company’s stock worth $5,851,000 after buying an additional 182,900 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in DRDGOLD in the second quarter worth $86,000. Dimensional Fund Advisors LP increased its position in DRDGOLD by 270.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 79,277 shares of the basic materials company’s stock valued at $683,000 after buying an additional 57,875 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of DRDGOLD by 68.4% during the second quarter. EverSource Wealth Advisors LLC now owns 4,529 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 1,840 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of DRDGOLD by 34.3% during the 2nd quarter. Marshall Wace LLP now owns 208,006 shares of the basic materials company’s stock valued at $1,791,000 after buying an additional 53,081 shares during the last quarter. 14.70% of the stock is owned by institutional investors.

About DRDGOLD

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.