DRDGOLD (NYSE:DRD) Raised to Buy at StockNews.com

DRDGOLD (NYSE:DRD) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Separately, HC Wainwright lowered their price objective on shares of DRDGOLD from $17.25 to $16.25 and set a “buy” rating on the stock in a research note on Wednesday, February 19th.

DRDGOLD Price Performance

Shares of DRD opened at $13.93 on Friday. The firm’s 50 day moving average is $10.82 and its 200-day moving average is $10.13. The stock has a market capitalization of $1.20 billion, a P/E ratio of 11.06 and a beta of 1.09. DRDGOLD has a 12-month low of $7.53 and a 12-month high of $14.24.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. PKO Investment Management Joint Stock Co acquired a new position in shares of DRDGOLD in the fourth quarter worth about $439,000. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new position in shares of DRDGOLD in the fourth quarter worth about $276,000. Public Employees Retirement System of Ohio boosted its holdings in shares of DRDGOLD by 26.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 56,592 shares of the basic materials company’s stock worth $488,000 after buying an additional 11,921 shares during the period. GTS Securities LLC acquired a new position in shares of DRDGOLD in the fourth quarter worth about $170,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of DRDGOLD during the fourth quarter worth approximately $110,000. 14.70% of the stock is currently owned by institutional investors and hedge funds.

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.