DRDGOLD (NYSE:DRD) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of DRDGOLD (NYSE:DRD – Get Rating) in a research note issued to investors on Thursday. The brokerage issued a buy rating on the basic materials company’s stock.

Separately, HC Wainwright lowered their target price on DRDGOLD from $15.25 to $15.00 and set a buy rating on the stock in a research report on Thursday, February 16th.

DRDGOLD Trading Up 12.7 %

NYSE:DRD opened at $8.35 on Thursday. The company has a quick ratio of 4.30, a current ratio of 4.92 and a debt-to-equity ratio of 0.01. The stock’s 50-day simple moving average is $7.79 and its 200 day simple moving average is $6.68. DRDGOLD has a 52-week low of $4.66 and a 52-week high of $10.19.

DRDGOLD Increases Dividend

The business also recently announced a — dividend, which will be paid on Thursday, March 23rd. Investors of record on Friday, March 10th will be given a $0.2212 dividend. The ex-dividend date is Thursday, March 9th. This represents a dividend yield of 3.3%. This is an increase from DRDGOLD’s previous — dividend of $0.14.

Hedge Funds Weigh In On DRDGOLD

A number of institutional investors have recently bought and sold shares of DRD. U S Global Investors Inc. acquired a new position in DRDGOLD during the fourth quarter worth approximately $1,465,000. Jane Street Group LLC acquired a new position in DRDGOLD during the third quarter worth approximately $863,000. National Bank of Canada FI acquired a new position in DRDGOLD during the fourth quarter worth approximately $1,024,000. Marshall Wace LLP acquired a new position in DRDGOLD during the third quarter worth approximately $485,000. Finally, Van ECK Associates Corp increased its position in DRDGOLD by 1.0% during the fourth quarter. Van ECK Associates Corp now owns 7,159,943 shares of the basic materials company’s stock worth $52,983,000 after buying an additional 74,384 shares during the last quarter.

About DRDGOLD

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DRDGOLD Ltd. engages in the business of retreatment of surface gold. It operates through the following segments: Ergo, FWGR, and Other Reconciling Items. The Ergo segment treats slime dams and sand dumps to the south of Johannesburg’s central business district as well as the East and Central Rand goldfields.