Zacks Research Upgrades DRDGOLD (NYSE:DRD) to “Strong-Buy”

DRDGOLD (NYSE:DRD) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other research firms have also recently weighed in on DRD. Wall Street Zen upgraded shares of DRDGOLD from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Weiss Ratings restated a “buy (b)” rating on shares of DRDGOLD in a report on Monday, April 20th. Finally, HC Wainwright raised their price target on shares of DRDGOLD to $46.50 and gave the company a “buy” rating in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $46.50.

DRDGOLD Stock Performance

NYSE:DRD opened at $27.16 on Wednesday. DRDGOLD has a fifty-two week low of $12.75 and a fifty-two week high of $39.37. The company’s 50-day simple moving average is $31.14 and its 200-day simple moving average is $30.93.

DRDGOLD (NYSE:DRD) last released its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $6.74 earnings per share for the quarter. On average, sell-side analysts predict that DRDGOLD will post 14.22 earnings per share for the current fiscal year.

Institutional Trading of DRDGOLD

Institutional investors have recently bought and sold shares of the stock. Banque Cantonale Vaudoise acquired a new stake in DRDGOLD in the 4th quarter worth approximately $42,000. Farther Finance Advisors LLC boosted 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 worth $47,000 after purchasing an additional 792 shares in the last quarter. Osaic Holdings Inc. boosted its stake in DRDGOLD by 11.5% in the 2nd quarter. Osaic Holdings Inc. now owns 6,892 shares of the basic materials company’s stock worth $92,000 after purchasing an additional 713 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in DRDGOLD in the 3rd quarter worth approximately $102,000. Finally, Blue Trust Inc. boosted its stake in DRDGOLD by 21.8% in the 4th quarter. Blue Trust Inc. now owns 4,476 shares of the basic materials company’s stock worth $139,000 after purchasing an additional 800 shares in the last quarter. 14.70% of the stock is currently owned by institutional investors and hedge funds.

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.