DRDGOLD Limited (NYSE:DRD) Sees Significant Growth in Short Interest

DRDGOLD Limited (NYSE:DRD) was the target of a significant growth in short interest during the month of February. As of February 13th, there was short interest totaling 659,568 shares, a growth of 25.7% from the January 29th total of 524,749 shares. Based on an average daily trading volume, of 350,284 shares, the days-to-cover ratio is currently 1.9 days. Currently, 0.8% of the shares of the company are sold short. Currently, 0.8% of the shares of the company are sold short. Based on an average daily trading volume, of 350,284 shares, the days-to-cover ratio is currently 1.9 days.

DRDGOLD Price Performance

Shares of DRD stock opened at $38.21 on Tuesday. DRDGOLD has a 12-month low of $11.25 and a 12-month high of $39.37. The firm has a 50-day moving average price of $34.50 and a 200 day moving average price of $28.85.

DRDGOLD Dividend Announcement

The company also recently announced a dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, March 13th will be paid a $0.3122 dividend. This represents a dividend yield of 174.0%. The ex-dividend date of this dividend is Friday, March 13th.

Hedge Funds Weigh In On DRDGOLD

Several large investors have recently bought and sold shares of the business. Banque Cantonale Vaudoise bought a new stake in DRDGOLD during the fourth quarter worth about $42,000. Farther Finance Advisors LLC lifted its stake in DRDGOLD by 88.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,690 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 792 shares during the last quarter. BNP Paribas Financial Markets bought a new position in DRDGOLD during the third quarter worth about $102,000. Blue Trust Inc. increased its position in DRDGOLD by 21.8% during the fourth quarter. Blue Trust Inc. now owns 4,476 shares of the basic materials company’s stock worth $139,000 after buying an additional 800 shares during the last quarter. Finally, Smartleaf Asset Management LLC bought a new stake in DRDGOLD in the fourth quarter valued at approximately $140,000. 14.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on DRD. Zacks Research upgraded shares of DRDGOLD from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 19th. Wall Street Zen raised DRDGOLD from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of DRDGOLD in a report on Wednesday, January 21st. Finally, HC Wainwright increased their price objective on DRDGOLD to $46.50 and gave the company a “buy” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $46.50.

DRDGOLD Company Profile

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.