DRDGOLD (NYSE:DRD) Sets New 52-Week High – Should You Buy?

DRDGOLD Limited (NYSE:DRD)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $38.20 and last traded at $37.77, with a volume of 79705 shares changing hands. The stock had previously closed at $36.24.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DRD shares. Weiss Ratings reissued a “buy (b)” rating on shares of DRDGOLD in a research report on Wednesday, October 8th. Wall Street Zen lowered DRDGOLD from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 3rd. Zacks Research upgraded DRDGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, November 24th. Finally, HC Wainwright lifted their price objective on shares of DRDGOLD to $36.25 and gave the stock a “buy” rating in a research report on Friday, October 17th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, DRDGOLD has an average rating of “Moderate Buy” and a consensus target price of $36.25.

DRDGOLD Trading Up 2.5%

The firm has a 50-day simple moving average of $31.11 and a two-hundred day simple moving average of $24.61.

Institutional Trading of DRDGOLD

Hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its position in shares of DRDGOLD by 88.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,690 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 792 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of DRDGOLD by 29.7% in the second 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 during the period. Osaic Holdings Inc. boosted its stake in shares of DRDGOLD by 11.5% in the second quarter. Osaic Holdings Inc. now owns 6,892 shares of the basic materials company’s stock valued at $92,000 after buying an additional 713 shares during the period. BNP Paribas Financial Markets acquired a new stake in DRDGOLD during the third quarter worth approximately $102,000. Finally, Blue Trust Inc. increased its stake in DRDGOLD by 21.8% during the 4th quarter. Blue Trust Inc. now owns 4,476 shares of the basic materials company’s stock worth $139,000 after acquiring an additional 800 shares during the period. Institutional investors and hedge funds own 14.70% of the company’s stock.

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.