Rathbones Group PLC Raises Stake in DRDGOLD Limited $DRD

Rathbones Group PLC lifted its stake in DRDGOLD Limited (NYSE:DRD) by 42.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,575 shares of the basic materials company’s stock after purchasing an additional 7,000 shares during the period. Rathbones Group PLC’s holdings in DRDGOLD were worth $314,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise bought a new position in DRDGOLD in the 1st quarter worth about $39,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in DRDGOLD by 2.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 514,199 shares of the basic materials company’s stock worth $7,955,000 after purchasing an additional 12,099 shares in the last quarter. HighTower Advisors LLC purchased a new position in DRDGOLD during the 1st quarter worth $343,000. Russell Investments Group Ltd. bought a new stake in DRDGOLD during the 1st quarter valued at $314,000. Finally, American Century Companies Inc. lifted its holdings in shares of DRDGOLD by 5.7% in the 1st quarter. American Century Companies Inc. now owns 941,915 shares of the basic materials company’s stock worth $14,571,000 after buying an additional 50,810 shares during the period. Institutional investors own 14.70% of the company’s stock.

DRDGOLD Stock Performance

NYSE:DRD opened at $27.47 on Wednesday. The company’s 50-day simple moving average is $25.94 and its 200-day simple moving average is $18.72. DRDGOLD Limited has a fifty-two week low of $8.38 and a fifty-two week high of $31.91.

DRDGOLD Increases Dividend

The firm also recently declared an annual dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 12th were given a dividend of $0.2269 per share. The ex-dividend date of this dividend was Friday, September 12th. This is a boost from DRDGOLD’s previous annual dividend of $0.16. This represents a dividend yield of 202.0%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on DRD shares. HC Wainwright lifted their price objective on DRDGOLD to $36.25 and gave the company a “buy” rating in a report on Friday, October 17th. Wall Street Zen lowered shares of DRDGOLD from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of DRDGOLD in a research note on Wednesday, October 8th. Finally, Zacks Research downgraded shares of DRDGOLD from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 20th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, DRDGOLD presently has a consensus rating of “Hold” and an average price target of $36.25.

DRDGOLD 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.