DRDGOLD (NYSE:DRD) Trading Up 4.3% – Should You Buy?

DRDGOLD Limited (NYSE:DRD)’s share price shot up 4.3% during trading on Monday . The stock traded as high as $10.55 and last traded at $10.51. 135,050 shares traded hands during trading, a decline of 37% from the average session volume of 213,664 shares. The stock had previously closed at $10.07.

Analysts Set New Price Targets

Separately, HC Wainwright raised their price objective on DRDGOLD from $13.25 to $17.25 and gave the company a “buy” rating in a report on Wednesday, January 22nd.

DRDGOLD Price Performance

The firm has a fifty day simple moving average of $9.33 and a 200 day simple moving average of $9.66.

Institutional Trading of DRDGOLD

Institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp lifted its position in shares of DRDGOLD by 24.2% in the third quarter. Van ECK Associates Corp now owns 6,621,470 shares of the basic materials company’s stock valued at $63,831,000 after acquiring an additional 1,291,541 shares in the last quarter. U S Global Investors Inc. purchased a new position in shares of DRDGOLD in the third quarter valued at approximately $2,388,000. ABC Arbitrage SA purchased a new position in shares of DRDGOLD in the fourth quarter valued at approximately $1,140,000. Dimensional Fund Advisors LP lifted its position in shares of DRDGOLD by 270.4% in the second quarter. Dimensional Fund Advisors LP now owns 79,277 shares of the basic materials company’s stock valued at $683,000 after acquiring an additional 57,875 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of DRDGOLD by 34.3% in the second quarter. Marshall Wace LLP now owns 208,006 shares of the basic materials company’s stock valued at $1,791,000 after acquiring an additional 53,081 shares in the last quarter. 14.70% of the stock is owned by institutional investors and hedge funds.

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.