HC Wainwright Lowers DRDGOLD (NYSE:DRD) Price Target to $16.25

DRDGOLD (NYSE:DRD) had its target price lowered by equities research analysts at HC Wainwright from $17.25 to $16.25 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. HC Wainwright’s target price points to a potential upside of 55.59% from the company’s current price.

DRDGOLD Trading Up 1.2 %

DRDGOLD stock opened at $10.44 on Wednesday. DRDGOLD has a 12-month low of $6.48 and a 12-month high of $12.70. The firm’s fifty day moving average is $9.61 and its 200 day moving average is $9.74.

Institutional Trading of DRDGOLD

Several large investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in DRDGOLD by 53.0% in the fourth quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 1,122 shares in the last quarter. Van ECK Associates Corp raised its position in shares of DRDGOLD by 24.2% during the third quarter. Van ECK Associates Corp now owns 6,621,470 shares of the basic materials company’s stock worth $63,831,000 after purchasing an additional 1,291,541 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of DRDGOLD by 11.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 93,206 shares of the basic materials company’s stock worth $899,000 after purchasing an additional 9,765 shares in the last quarter. Blue Trust Inc. grew its position in DRDGOLD by 488.4% in the 3rd quarter. Blue Trust Inc. now owns 36,144 shares of the basic materials company’s stock valued at $348,000 after purchasing an additional 30,001 shares during the period. Finally, ABC Arbitrage SA bought a new stake in DRDGOLD during the 4th quarter valued at $1,140,000. 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.