DRDGOLD (NYSE:DRD) Hits New 12-Month High – Should You Buy?

DRDGOLD Limited (NYSE:DRD)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $14.29 and last traded at $14.24, with a volume of 55572 shares trading hands. The stock had previously closed at $13.49.

Analyst Ratings Changes

A number of research firms have commented on DRD. HC Wainwright decreased their price target on 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 Up 2.0 %

The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 11.76 and a beta of 1.09. The company’s 50 day moving average price is $11.15 and its 200 day moving average price is $10.25.

DRDGOLD Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of DRD. Aquatic Capital Management LLC purchased a new stake in shares of DRDGOLD in the 4th quarter valued at $25,000. GAMMA Investing LLC grew its position in DRDGOLD by 53.0% during the 4th quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 1,122 shares during the period. QRG Capital Management Inc. purchased a new position in shares of DRDGOLD during the 4th quarter valued at about $98,000. Squarepoint Ops LLC acquired a new position in shares of DRDGOLD in the 4th quarter valued at about $110,000. Finally, Virtu Financial LLC purchased a new stake in shares of DRDGOLD in the third quarter worth about $119,000. 14.70% of the stock is 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.