Key Points
- DRDGOLD insider Ryno Bornman sold 8,388 shares at an average price of $2.44, generating $20,466.72 and reducing his direct holdings by 33.09% to 16,959 shares.
- Insiders collectively sold approximately 505,368 shares worth $1.23 million, including significant reductions by the CEO, CFO and COO. The broad-based selling could create an overhang, though it may also reflect scheduled sales, taxes or personal liquidity needs.
- Analysts maintain a generally positive view, with two Buy ratings and one Hold rating, producing a Moderate Buy consensus and a $35 price target. DRDGOLD recently reported quarterly EPS of $0.83 on $188.03 million in revenue.
DRDGOLD Limited (NYSE:DRD - Get Free Report) insider Ryno Bornman sold 8,388 shares of DRDGOLD stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $2.44, for a total transaction of $20,466.72. Following the completion of the transaction, the insider directly owned 16,959 shares of the company's stock, valued at $41,379.96. The trade was a 33.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Ryno Bornman also recently made the following trade(s):
- On Tuesday, September 1st, Ryno Bornman sold 5,490 shares of DRDGOLD stock. The stock was sold at an average price of $2.75, for a total transaction of $15,097.50.
DRDGOLD Price Performance
DRD stock opened at $25.15 on Thursday. The company's 50-day simple moving average is $26.28 and its 200-day simple moving average is $27.71. DRDGOLD Limited has a 52-week low of $19.47 and a 52-week high of $39.37.
DRDGOLD (NYSE:DRD - Get Free Report) last posted its earnings results on Wednesday, August 19th. The basic materials company reported $0.83 EPS for the quarter. The business had revenue of $188.03 million for the quarter. On average, sell-side analysts forecast that DRDGOLD Limited will post 3.12 EPS for the current year.
DRDGOLD Announces Dividend
The firm also recently declared a dividend, which was paid on Monday, September 21st. Investors of record on Friday, September 11th were issued a $0.7379 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a yield of 551.0%.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. HC Wainwright increased their price target on DRDGOLD from $33.00 to $35.00 and gave the stock a "buy" rating in a research report on Thursday, August 20th. Wall Street Zen cut DRDGOLD from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 4th. Weiss Ratings upgraded DRDGOLD from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday. Finally, Zacks Research raised DRDGOLD from a "strong sell" rating to a "hold" rating in a research note on Monday, October 19th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, DRDGOLD currently has an average rating of "Moderate Buy" and a consensus price target of $35.00.
Check Out Our Latest Analysis on DRDGOLD
Key DRDGOLD News
Here are the key news stories impacting DRDGOLD this week:
- Negative Sentiment: Company insiders collectively sold approximately 505,368 shares for about $1.23 million at an average price of $2.44. CEO Daniel Pretorius sold 117,980 shares, CFO Henriette Hooijer sold 22,687, and COO Jacobus Schoeman sold 94,575. Several other insiders reduced their holdings by 50% or more, while Henry Gouws cut his position by nearly 97% and Kevin Kruger by nearly 89%. The broad-based selling may create an overhang and raise concerns about insider confidence, although such transactions can also reflect scheduled sales, compensation, taxes or personal liquidity needs. DRDGOLD insider transaction filings
Hedge Funds Weigh In On DRDGOLD
Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its holdings in DRDGOLD by 58.3% during the first quarter. Renaissance Technologies LLC now owns 349,645 shares of the basic materials company's stock valued at $10,269,000 after purchasing an additional 128,832 shares in the last quarter. Amundi grew its position in shares of DRDGOLD by 9.1% in the first quarter. Amundi now owns 507,710 shares of the basic materials company's stock valued at $14,911,000 after purchasing an additional 42,342 shares during the period. Sei Investments Co. grew its position in shares of DRDGOLD by 60.8% in the first quarter. Sei Investments Co. now owns 79,738 shares of the basic materials company's stock valued at $2,342,000 after purchasing an additional 30,137 shares during the period. U S Global Investors Inc. increased its stake in shares of DRDGOLD by 10.6% during the first quarter. U S Global Investors Inc. now owns 245,545 shares of the basic materials company's stock worth $7,212,000 after purchasing an additional 23,512 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd increased its stake in shares of DRDGOLD by 259.5% during the first quarter. Y Intercept Hong Kong Ltd now owns 28,069 shares of the basic materials company's stock worth $824,000 after purchasing an additional 20,261 shares in the last quarter. 14.70% of the stock is currently owned by institutional investors and hedge funds.
About DRDGOLD
(
Get Free Report)
DRDGOLD Limited is a South African gold producer focused on the retreatment of surface mine waste. Rather than operating conventional underground mines, the company processes gold-bearing tailings, sand dumps and slimes dams left by historical mining activities, recovering gold and reducing the environmental footprint of legacy mine waste.
DRDGOLD's principal operations are the Ergo and Far West Gold Recoveries (FWGR) businesses. Ergo processes surface material from areas around Johannesburg and the East Rand, while FWGR operates on the West Rand and Far West Rand.
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