DRDGOLD Limited (NYSE:DRD) Short Interest Down 29.7% in December

DRDGOLD Limited (NYSE:DRD) saw a large decrease in short interest in December. As of December 15th, there was short interest totaling 624,355 shares, a decrease of 29.7% from the November 30th total of 887,697 shares. Based on an average daily volume of 417,847 shares, the short-interest ratio is currently 1.5 days. Approximately 0.7% of the company’s stock are short sold. Approximately 0.7% of the company’s stock are short sold. Based on an average daily volume of 417,847 shares, the short-interest ratio is currently 1.5 days.

DRDGOLD Stock Performance

DRD traded down $2.79 during trading on Monday, reaching $30.54. The stock had a trading volume of 514,763 shares, compared to its average volume of 409,697. DRDGOLD has a 1-year low of $8.38 and a 1-year high of $34.80. The stock has a 50 day moving average of $28.41 and a two-hundred day moving average of $22.33.

Hedge Funds Weigh In On DRDGOLD

Large investors have recently bought and sold shares of the stock. First Affirmative Financial Network bought a new stake in DRDGOLD in the third quarter valued at about $236,000. Quantessence Capital LLC acquired a new stake in shares of DRDGOLD in the 3rd quarter valued at $382,000. Public Employees Retirement System of Ohio lifted its stake in shares of DRDGOLD by 88.2% during the third quarter. Public Employees Retirement System of Ohio now owns 116,129 shares of the basic materials company’s stock valued at $3,205,000 after acquiring an additional 54,423 shares during the period. Millennium Management LLC lifted its stake in shares of DRDGOLD by 91.9% during the third quarter. Millennium Management LLC now owns 397,000 shares of the basic materials company’s stock valued at $10,957,000 after acquiring an additional 190,152 shares during the period. Finally, Brevan Howard Capital Management LP bought a new position in DRDGOLD in the third quarter valued at about $722,000. 14.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on DRD shares. Weiss Ratings reissued a “buy (b)” rating on shares of DRDGOLD in a report on Wednesday, October 8th. Wall Street Zen raised DRDGOLD from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 20th. Zacks Research raised shares of DRDGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. Finally, 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. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $36.25.

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.