DRD - DRDGOLD: Lower Price Target Ahead Of Expected Gold Rally (Rating Downgrade)

2024-01-30 08:37:26 ET

Summary

• My analysis assigns a "Hold" rating to DRDGOLD Limited shares, downgraded from a "Buy" rating.
• DRDGOLD Limited is a gold producer in South Africa that reprocesses material from previous gold mining operations.
• DRD stock is well-positioned to benefit from expected increases in gold prices, but retail investors may want to wait for a lower price before buying.

This Analysis Assigns a Hold rating for DRDGOLD Limited

This analysis assigns a “Hold” rating to DRDGOLD Limited ( DRD ) shares, which represents a downgrade from the “Buy” rating in the previous analysis .

DRDGOLD Limited is a gold producer based in Johannesburg, South Africa, engaged in the extraction of gold, not from mines as gold mining companies typically do, but by reprocessing material previously set aside by other operators during the operation of gold mines....

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