Large Inflow of Money Witnessed in DRDGOLD Limited

DRDGOLD Limited (DRD) : The money flow analysis of DRDGOLD Limited (DRD) indicates a $0.11 million of outflow was on downticks, whereas, the investors on Thursday gobbled up stocks worth $0.49 million on upticks. The ratio between the upticks and downticks was clearly in favor of the bulls at 4.57 and so was the total money flow at $0.39 million. The bulls lapped up $0.41 million worth of block trades on upticks. The money flow was $0.41 million in block trades, underlining the interest of the bulls in the stock even when the stock was declining.However, the price action shows that the bears had an upper hand in the stock of DRDGOLD Limited (DRD), pushing it down by -4.96% for the day. The stock slid $0.4 and traded at $7.66 during the day. Nonetheless, the stock is 18.58% over the previous weeks close.


The stock has recorded a 20-day Moving Average of 44.58% and the 50-Day Moving Average is 56.96%.

DRDGOLD Limited (NYSE:DRD): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $7.83 and $7.31 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $8.29. The buying momentum continued till the end and the stock did not give up its gains. It closed at $8.14, notching a gain of 0.99% for the day. The total traded volume was 1,391,696 . The stock had closed at $8.06 on the previous day.

DRDGOLD Limited is a surface gold tailings retreatment company. The Company operates in the central Witwatersrand (Wits) basin in Gauteng province and recovers gold from tailings. Ergo Mining Proprietary Limited (Ergo) is the Companys operating entity. Ergo is a surface retreatment operator. Ergos assets cover an area approximately 62 kilometers from east to west and 25 kilometers from north to south. The Company operates approximately two metallurgical plants, two milling and pump stations, a network of pipelines and the Brakpan tailings facility (BTF). The Ergo plant has a total retreatment capacity of 1.8 million tons per month. The Companys product is dore bars. Ergo beneficiates its crude bullion (approximately 85% gold, 7% to 8% silver, some copper and other elements) at its smelter. Ergo is wholly owned by Ergo Mining Operations Proprietary Limited (EMO).

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