DRDGOLD (NYSE:DRD) Upgraded to Buy by StockNews.com

DRDGOLD (NYSE:DRD) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

DRDGOLD Trading Down 0.1 %

DRD traded down $0.01 during trading on Tuesday, hitting $8.38. The company’s stock had a trading volume of 412,527 shares, compared to its average volume of 345,566. The firm’s 50 day moving average price is $7.79 and its two-hundred day moving average price is $8.13. DRDGOLD has a 12 month low of $6.48 and a 12 month high of $13.85.

Institutional Investors Weigh In On DRDGOLD

A number of institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp grew its stake in shares of DRDGOLD by 1.2% during the fourth quarter. Van ECK Associates Corp now owns 6,132,581 shares of the basic materials company’s stock worth $48,754,000 after purchasing an additional 72,498 shares during the period. Acadian Asset Management LLC grew its stake in DRDGOLD by 6.8% in the third quarter. Acadian Asset Management LLC now owns 1,467,309 shares of the basic materials company’s stock valued at $12,161,000 after acquiring an additional 93,250 shares during the period. Renaissance Technologies LLC grew its stake in DRDGOLD by 5.1% in the second quarter. Renaissance Technologies LLC now owns 1,082,547 shares of the basic materials company’s stock valued at $6,355,000 after acquiring an additional 52,334 shares during the period. BlackRock Inc. grew its stake in DRDGOLD by 3.2% in the third quarter. BlackRock Inc. now owns 537,489 shares of the basic materials company’s stock valued at $2,935,000 after acquiring an additional 16,716 shares during the period. Finally, U S Global Investors Inc. grew its stake in DRDGOLD by 1.4% in the third quarter. U S Global Investors Inc. now owns 431,822 shares of the basic materials company’s stock valued at $3,584,000 after acquiring an additional 5,822 shares during the period. 14.70% of the stock is owned by institutional investors and hedge funds.

About DRDGOLD

DRDGOLD Limited, a gold mining company, engages in the surface gold tailings retreatment business in South Africa. It also involved in the exploration, extraction, processing, and smelting activities. The company recovers gold from surface tailings in the Witwatersrand basin in Gauteng province. DRDGOLD Limited was formerly known as Durban Roodepoort Deep Limited and changed its name to DRDGOLD Limited in 2004.