DRDGOLD (NYSE:DRD) Sees Unusually-High Trading Volume - Time to Buy?

DRDGOLD Limited (NYSE:DRD) experienced a noteworthy increase in trading activity on Friday, with approximately 112,937 shares changing hands. This figure indicates a 34% decrease from the previous day's volume of 172,094 shares. At the end of the trading session, the stock was priced at $9.47, marking an increase from its prior close of $9.07.

Analyst Ratings Updates

Recent reports from various brokerages have provided new insights on DRDGOLD. HC Wainwright reaffirmed a "buy" rating and set a target price of $13.25 for the stock in a report dated October 18. Conversely, StockNews.com downgraded DRDGOLD from a "buy" to a "hold" rating in a report published on September 26.

Check Out Our Latest Research Report on DRDGOLD

Performance of DRDGOLD Stock

Currently, DRDGOLD has a market capitalization of $797.15 million, a price-to-earnings ratio of 8.70, and a beta of 1.05. The company's 50-day moving average stands at $9.53, while its 200-day moving average is $9.60.

Institutional Investor Activity

Several institutional investors have recently adjusted their stakes in DRDGOLD. For example, Van ECK Associates Corp increased its holdings by 24.2% during the third quarter, acquiring an additional 1,291,541 shares for a total of 6,621,470 shares valued at $63,831,000. U.S. Global Investors Inc. entered a new stake worth about $2,388,000 in the same quarter. Furthermore, American Century Companies Inc. boosted its position by 36.8% during the second quarter, bringing its ownership to 679,600 shares valued at $5,851,000. Dimensional Fund Advisors LP also saw significant growth, raising its holdings by 270.4% and owning 79,277 shares valued at $683,000. Finally, Marshall Wace LLP increased its stake by 34.3%, acquiring 53,081 additional shares for a total of 208,006 shares worth $1,791,000. Overall, hedge funds and institutional investors hold approximately 14.70% of DRDGOLD stock.

About DRDGOLD

DRDGOLD Limited operates in the gold mining industry, focusing on the surface gold tailings retreatment business in South Africa. The company engages in various activities, including exploration, extraction, processing, and smelting of gold. It specializes in recovering gold from surface tailings located in the Witwatersrand basin in Gauteng province. Originally known as Durban Roodepoort Deep Limited, the company changed its name to DRDGOLD Limited in 2004.

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This update has been generated using automated reporting tools and includes financial data to provide timely information.

Investing in DRDGOLD

If you're contemplating an investment in DRDGOLD, it may be beneficial to gather as much information as possible.

Market analysts continually evaluate the top-rated stocks which they recommend to their clients. Notably, while DRDGOLD currently holds a "Buy" rating among several analysts, leading analysts have identified five other stocks they deem more favorable for investment.
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