ValuEngine Downgrades DRDGOLD (DRD) to Strong Sell

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DRDGOLD (NYSE:DRD) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Tuesday.

NYSE:DRD opened at $2.08 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.14. DRDGOLD has a 52-week low of $1.91 and a 52-week high of $4.11.

A hedge fund recently raised its stake in DRDGOLD stock. Van ECK Associates Corp increased its stake in shares of DRDGOLD Ltd. (NYSE:DRD) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,129,564 shares of the basic materials company’s stock after purchasing an additional 97,947 shares during the quarter. Van ECK Associates Corp owned approximately 7.41% of DRDGOLD worth $8,544,000 as of its most recent filing with the Securities and Exchange Commission. 17.96% of the stock is owned by institutional investors and hedge funds.

About DRDGOLD

DRDGOLD Limited engages in the retreatment, production, and sale of gold from surface tailings in South Africa. It recovers gold from surface tailings in the central and western Witwatersrand basin in Gauteng province. The company was founded in 1895 and is headquartered in Johannesburg, South Africa.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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