DRDGOLD (NYSE:DRD) Shares Up 10.1% – Should You Buy?

Shares of DRDGOLD Limited (NYSE:DRD) traded up 10.1% on Thursday . The company traded as high as $11.51 and last traded at $11.62. 145,790 shares were traded during trading, a decline of 39% from the average session volume of 237,215 shares. The stock had previously closed at $10.55.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. StockNews.com raised shares of DRDGOLD from a “hold” rating to a “buy” rating in a report on Wednesday. HC Wainwright cut their target price on shares of DRDGOLD from $17.25 to $16.25 and set a “buy” rating on the stock in a report on Wednesday.

DRDGOLD Price Performance

The business’s fifty day moving average price is $9.62 and its 200 day moving average price is $9.75.

Hedge Funds Weigh In On DRDGOLD

A number of hedge funds and other institutional investors have recently bought and sold shares of DRD. 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 buying an additional 30,001 shares during the last quarter. Van ECK Associates Corp raised its stake in DRDGOLD by 24.2% in the 3rd quarter. Van ECK Associates Corp now owns 6,621,470 shares of the basic materials company’s stock valued at $63,831,000 after purchasing an additional 1,291,541 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in DRDGOLD by 12.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 435,243 shares of the basic materials company’s stock worth $4,196,000 after purchasing an additional 48,442 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in DRDGOLD during the 3rd quarter worth approximately $431,000. Finally, Virtu Financial LLC acquired a new stake in DRDGOLD during the 3rd quarter worth approximately $119,000. 14.70% of the stock is currently owned by hedge funds and other 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.