Short Interest in DRDGOLD Limited (NYSE:DRD) Decreases By 21.3%

DRDGOLD Limited (NYSE:DRD) was the target of a large decline in short interest in February. As of February 28th, there was short interest totalling 1,290,000 shares, a decline of 21.3% from the February 13th total of 1,640,000 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average daily trading volume, of 278,500 shares, the days-to-cover ratio is presently 4.6 days.

Analyst Ratings Changes

A number of research firms have issued reports on DRD. HC Wainwright reduced their target price on shares of DRDGOLD from $17.25 to $16.25 and set a “buy” rating for the company in a research note on Wednesday, February 19th. StockNews.com upgraded shares of DRDGOLD from a “hold” rating to a “buy” rating in a report on Friday, March 14th.

DRDGOLD Stock Performance

Shares of NYSE:DRD traded up $0.35 on Wednesday, hitting $14.87. 554,199 shares of the company were exchanged, compared to its average volume of 305,357. DRDGOLD has a one year low of $7.53 and a one year high of $14.86. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 11.79 and a beta of 1.09. The company’s 50 day moving average price is $11.03 and its two-hundred day moving average price is $10.22.

DRDGOLD Announces Dividend

The company also recently announced an annual dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, March 14th will be issued a $0.1628 dividend. This represents a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, March 14th. DRDGOLD’s payout ratio is 19.05%.

Hedge Funds Weigh In On DRDGOLD

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PKO Investment Management Joint Stock Co bought a new stake in DRDGOLD during the 4th quarter worth approximately $439,000. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new position in DRDGOLD in the fourth quarter worth $276,000. Public Employees Retirement System of Ohio grew its holdings in shares of DRDGOLD by 26.7% during 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 purchasing an additional 11,921 shares during the last quarter. GTS Securities LLC acquired a new stake in shares of DRDGOLD in the fourth quarter valued at $170,000. Finally, Squarepoint Ops LLC acquired a new position in DRDGOLD during the 4th quarter worth about $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.