Ryno Bornman Sells 5,490 Shares of DRDGOLD (NYSE:DRD) Stock

DRDGOLD Limited (NYSE:DRD) insider Ryno Bornman sold 5,490 shares of DRDGOLD stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $2.75, for a total transaction of $15,097.50. Following the completion of the transaction, the insider directly owned 6,708 shares of the company’s stock, valued at $18,447. The trade was a 45.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

DRDGOLD Trading Down 3.6%

Shares of DRDGOLD stock opened at $28.54 on Friday. The firm has a 50-day simple moving average of $23.69 and a two-hundred day simple moving average of $27.09. DRDGOLD Limited has a fifty-two week low of $19.47 and a fifty-two week high of $39.37.

DRDGOLD (NYSE:DRD) last posted its earnings results on Wednesday, August 19th. The basic materials company reported $0.83 EPS for the quarter. The business had revenue of $188.03 million for the quarter. On average, equities research analysts forecast that DRDGOLD Limited will post 3.12 earnings per share for the current year.

DRDGOLD Announces Dividend

The firm also recently declared a dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 11th will be given a dividend of $0.7379 per share. The ex-dividend date is Friday, September 11th. This represents a yield of 530.0%.

Trending Headlines about DRDGOLD

Here are the key news stories impacting DRDGOLD this week:

• Positive Sentiment: Strong year and gold-market exposure: Mining Weekly characterized the past year as “very good” for DRDGOLD, supporting the view that favorable gold prices and operating performance remain important catalysts for the gold-tailings retreatment company. It’s been a very good year for DRDGOLD
• Positive Sentiment: Dividend and analyst support: DRDGOLD declared a $0.7379-per-share dividend payable September 21 to shareholders of record September 11. HC Wainwright also raised its price target to $35 and maintained a Buy rating, while the reported analyst consensus is Hold with a $35 target.
• Positive Sentiment: Institutional accumulation: Several funds increased their holdings during the second quarter, including JPMorgan, Arrowstreet Capital, Jane Street and Bank of America. Institutional investors collectively own about 14.7% of the company, providing some evidence of continued professional-investor interest.
• Neutral Sentiment: Insider sales followed award vesting: CEO Daniel Pretorius, CFO Henriette Hooijer, COO Jacobus Schoeman and other insiders sold shares on September 1 at an average price of $2.75. The transactions followed deferred-award vesting, so they may represent routine tax or liquidity-related sales rather than a negative change in management’s view of the business. The CEO retained nearly 1 million shares after his sale. DRDGOLD stock gains as insider share sales follow deferred award vesting
• Negative Sentiment: Broad insider selling weighs on sentiment: Nine executives and insiders sold approximately 127,494 shares worth $350,609 in total. Several individuals reduced their positions by roughly 45% to 85%, while Zacks Research downgraded the stock to Strong Sell. The breadth of selling could create near-term concern despite the company’s favorable operating trends. DRDGOLD insider selling report

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. HC Wainwright boosted their price objective on DRDGOLD from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Zacks Research cut shares of DRDGOLD from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of DRDGOLD in a report on Monday, August 3rd. Finally, Wall Street Zen cut shares of DRDGOLD from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $35.00.

Institutional Investors Weigh In On DRDGOLD

Institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC purchased a new stake in DRDGOLD during the 1st quarter worth approximately $1,759,000. JPMorgan Chase & Co. raised its holdings in shares of DRDGOLD by 7,065.0% during the second quarter. JPMorgan Chase & Co. now owns 30,093 shares of the basic materials company’s stock valued at $401,000 after acquiring an additional 29,673 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of DRDGOLD by 75.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 291,249 shares of the basic materials company’s stock valued at $3,882,000 after acquiring an additional 124,831 shares in the last quarter. Jane Street Group LLC lifted its position in shares of DRDGOLD by 174.4% in the second quarter. Jane Street Group LLC now owns 124,255 shares of the basic materials company’s stock valued at $1,656,000 after acquiring an additional 78,978 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of DRDGOLD by 138.0% in the second quarter. Bank of America Corp DE now owns 42,846 shares of the basic materials company’s stock worth $571,000 after acquiring an additional 24,845 shares during the last quarter. 14.70% of the stock is currently owned by institutional investors and hedge funds.

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.