DRDGOLD (NYSE:DRD) Stock Rating Lowered by Wall Street Zen

DRDGOLD (NYSE:DRD) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other research firms have also commented on DRD. Weiss Ratings reissued a “buy (b)” rating on shares of DRDGOLD in a research note on Wednesday, October 8th. HC Wainwright increased their target price on shares of DRDGOLD to $36.25 and gave the stock a “buy” rating in a report on Friday, October 17th. Finally, Zacks Research upgraded shares of DRDGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, November 24th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, DRDGOLD presently has an average rating of “Moderate Buy” and an average price target of $36.25.

DRDGOLD Price Performance

DRD opened at $30.37 on Friday. The stock’s 50-day moving average price is $28.84 and its 200 day moving average price is $22.80. DRDGOLD has a 12-month low of $8.62 and a 12-month high of $34.80.

Institutional Investors Weigh In On DRDGOLD

Several institutional investors have recently modified their holdings of DRD. Acadian Asset Management LLC acquired a new position in DRDGOLD in the first quarter valued at approximately $2,055,000. Savant Capital LLC purchased a new stake in shares of DRDGOLD during the 2nd quarter worth approximately $182,000. GAMMA Investing LLC boosted its holdings in shares of DRDGOLD by 29.7% in the 2nd quarter. GAMMA Investing LLC now owns 6,422 shares of the basic materials company’s stock valued at $86,000 after buying an additional 1,469 shares in the last quarter. Kiker Wealth Management LLC purchased a new position in shares of DRDGOLD in the 2nd quarter valued at $142,000. Finally, Rockefeller Capital Management L.P. purchased a new position in shares of DRDGOLD in the 2nd quarter valued at $2,505,000. 14.70% of the stock is owned by hedge funds and other institutional investors.

About DRDGOLD

DRDGOLD (NYSE: DRD) is a South African gold producer focused on the retreatment of surface tailings from historic mining operations on the Witwatersrand Basin. The company recovers fine gold particles from low?grade tailings using an integrated, carbon?in?leach (CIL) processing circuit that is designed to maximize yield and minimize environmental impact. DRDGOLD’s operations are centered on sustainable resource utilization, transforming previously discarded material into saleable gold doré bars.

The company operates two primary tailings retreatment facilities on the West Rand and East Rand of Gauteng Province.