DRDGOLD (NYSE:DRD) Shares Gap Down – Should You Sell?

Shares of DRDGOLD Limited (NYSE:DRD) gapped down prior to trading on Monday . The stock had previously closed at $24.37, but opened at $22.59. DRDGOLD shares last traded at $22.8270, with a volume of 84,642 shares.

Analysts Set New Price Targets

Several research firms have commented on DRD. Weiss Ratings lowered DRDGOLD from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Zacks Research upgraded DRDGOLD from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 29th. Finally, Wall Street Zen raised DRDGOLD from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 31st. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $46.50.

DRDGOLD Stock Performance

The stock has a 50-day moving average of $26.95 and a 200 day moving average of $30.63.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Banque Cantonale Vaudoise purchased a new stake in shares of DRDGOLD in the fourth quarter valued at about $42,000. Farther Finance Advisors LLC raised its stake in DRDGOLD by 33.5% during the fourth quarter. Farther Finance Advisors LLC now owns 2,256 shares of the basic materials company’s stock worth $70,000 after purchasing an additional 566 shares during the period. Osaic Holdings Inc. boosted its holdings in DRDGOLD by 11.5% in the 2nd quarter. Osaic Holdings Inc. now owns 6,892 shares of the basic materials company’s stock valued at $92,000 after purchasing an additional 713 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in DRDGOLD in the 3rd quarter valued at about $102,000. Finally, Blue Trust Inc. boosted its holdings in DRDGOLD by 21.8% in the 4th quarter. Blue Trust Inc. now owns 4,476 shares of the basic materials company’s stock valued at $139,000 after purchasing an additional 800 shares during the last quarter. Institutional investors and hedge funds own 14.70% of the company’s stock.

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.