Loading...
DRD logo

DRDGOLD LimitedNYSE:DRD Stock Report

Market Cap US$2.1b
Share Price
n/a
1Y62.1%
7D2.2%
1D1.7%
Portfolio Value
​
View

DRDGOLD Limited

NYSE:DRD Stock Report

Market Cap: US$2.1b

DRDGOLD (DRD) Stock Overview

A gold mining company, engages in the extraction of gold from the retreatment of surface mine tailings in South Africa. More details

DRD fundamental analysis
Snowflake Score
Valuation4/6
Future Growth1/6
Past Performance5/6
Financial Health6/6
Dividends4/6

Rewards

Trading at 34.8% below our estimate of its fair value

Revenue is forecast to grow 16.36% per year

Earnings grew by 87.2% over the past year

Risk Analysis

High level of non-cash earnings

Unstable dividend track record


DRD Community Fair Values

Create Narrative

See what 43 others think this stock is worth. Follow their fair value or set your own to get alerts.

NEW478,907 members

Join community and earn perks

Gain real feedbackFrom our editorial team, personally. Not silence.
Grow your followingReal investors. The kind who actually invest, not scroll past.
Unlock free accessFree premium subscription for consistent and quality authors.
Learn moreCreate Narrative
BL
BlackGoat
IN
Investingwilly
RO
RockeTeller
DA
davidlsander
478,907 investors already sharing narratives
View all narratives

DRDGOLD Limited Competitors

Price History & Performance

Summary of share price highs, lows and changes for DRDGOLD
Historical stock prices
Current Share PriceUS$24.19
52 Week HighUS$39.37
52 Week LowUS$14.52
Beta0.49
1 Month Change21.56%
3 Month Change-5.95%
1 Year Change62.13%
3 Year Change156.79%
5 Year Change160.95%
Change since IPO-69.76%

Recent News & Updates

Seeking Alpha • May 30

DRDGOLD: A Debt-Free Gold Proxy With Strong Margins And Execution Risk

Summary DRDGOLD offers a compelling 'Buy' case with a 12-month target price of $35.39, implying 36.10% upside at current gold prices. DRD's debt-free balance sheet, 53.7% operating margin, and disciplined capital allocation underpin robust cash generation and sustainable dividends. Vision 2028 targets doubling processing capacity, and extending mine life and is fully funded by operating cash flow, supporting long-term growth. Key risks include gold price volatility, sodium cyanide supply, and execution on Vision 2028 milestones, but DRD's operational leverage and cost discipline provide resilience. Read the full article on Seeking Alpha

Recent updates

Seeking Alpha • May 30

DRDGOLD: A Debt-Free Gold Proxy With Strong Margins And Execution Risk

Summary DRDGOLD offers a compelling 'Buy' case with a 12-month target price of $35.39, implying 36.10% upside at current gold prices. DRD's debt-free balance sheet, 53.7% operating margin, and disciplined capital allocation underpin robust cash generation and sustainable dividends. Vision 2028 targets doubling processing capacity, and extending mine life and is fully funded by operating cash flow, supporting long-term growth. Key risks include gold price volatility, sodium cyanide supply, and execution on Vision 2028 milestones, but DRD's operational leverage and cost discipline provide resilience. Read the full article on Seeking Alpha
Seeking Alpha • Apr 21

DRDGOLD: Stay Long This Unique Gold Producer

Summary DRDGOLD has delivered 53% total returns since June 2023, driven by rising gold prices and the company's excellent leverage to gold prices. DRDGOLD reprocesses historical waste tailings into gold, offering lower exploration risk and benefiting from fixed costs and rising gold prices. With gold prices rallying 27% YTD and expected to reach $4,000/oz, DRDGOLD's financial performance should continue to impress. Read the full article on Seeking Alpha
Seeking Alpha • Feb 03

DRDGold: Stuck In The Starting Blocks, Pan African Resources Leads The Way

Summary DRDGOLD Limited faces significant operational challenges, particularly with its Ergo project, which has underperformed due to regulatory delays and socio-economic disruptions. Despite high gold prices, DRDGOLD's future production is constrained by limited tailings storage capacity, impacting its ability to capitalize on favorable market conditions. Pan African Resources outperforms DRDGOLD in almost every metric, making it a more compelling long-term investment. Read the full article on Seeking Alpha
Analysis Article • Nov 07

DRDGOLD's (NYSE:DRD) Profits Appear To Have Quality Issues

DRDGOLD Limited's ( NYSE:DRD ) robust recent earnings didn't do much to move the stock. We think this is due to...
Seeking Alpha • Sep 21

DRDGOLD: Why I'm Sticking With My Bullish Outlook

Summary DRDGOLD Limited's stock has delivered mixed returns amid a volatile operating environment. However, numerous inflection points have emerged. Despite experiencing lower production yields, DRDGOLD's full-year results were telling. The company's revenue grew by 14% to approximately $356 million, and its operating income increased in tandem. I hold a bullish view on Gold prices amid U.S. dollar weakness and economic tail risk. Yield normalization and Driefontein 2's expansion might add overlooked value. DRDGOLD's valuation metrics are mixed; while its P/B ratio is high, its EV/EBIT and P/E ratios are below five-year averages, indicating potential value. Read the full article on Seeking Alpha
Analysis Article • Sep 18

DRDGOLD Limited's (NYSE:DRD) Share Price Is Matching Sentiment Around Its Earnings

When close to half the companies in the United States have price-to-earnings ratios (or "P/E's") above 19x, you may...
Seeking Alpha • Jul 12

DRDGold Has Steam, But Better From A Dip

Summary The company holds significant gold reserves and resources, with a focus on Ergo and FWGR segments in the Witwatersrand Basin in the Gauteng province of South Africa. The outlook is promising with bullish gold prices and a positive impact on throughput from the recent commissioning of tailings reprocessing assets. This analysis re-assigns a Hold rating to DRDGOLD Limited shares. Read the full article on Seeking Alpha
Analysis Article • Jun 21

DRDGOLD (NYSE:DRD) Is Experiencing Growth In Returns On Capital

If you're looking for a multi-bagger, there's a few things to keep an eye out for. Firstly, we'll want to see a proven...
Analysis Article • Feb 21

DRDGOLD's (NYSE:DRD) Solid Profits Have Weak Fundamentals

DRDGOLD Limited ( NYSE:DRD ) announced strong profits, but the stock was stagnant. Our analysis suggests that...
Analysis Article • Feb 09

Many Still Looking Away From DRDGOLD Limited (NYSE:DRD)

DRDGOLD Limited's ( NYSE:DRD ) price-to-earnings (or "P/E") ratio of 9.6x might make it look like a buy right now...
Seeking Alpha • Jan 30

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

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. Read the full article on Seeking Alpha
Seeking Alpha • Nov 16

DRDGold: Strong Upside Potential Awaits Bullish Gold

Summary DRDGOLD Limited stock is re-assigned a Buy rating, with retail investors well positioned to benefit from the expected recovery in the price of gold. The correlation between the gold price and DRD's share price is positive, and DRD shareholders will be happy again as sentiment towards gold is on its way to turning strongly. The Company offers retail investors the opportunity to benefit from the increase in the price of gold without having to invest directly in the physical metal. Read the full article on Seeking Alpha
Analysis Article • Nov 12

DRDGOLD's (NYSE:DRD) Returns On Capital Are Heading Higher

To find a multi-bagger stock, what are the underlying trends we should look for in a business? Amongst other things...
Analysis Article • Aug 16

If EPS Growth Is Important To You, DRDGOLD (NYSE:DRD) Presents An Opportunity

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
Analysis Article • Jul 10

DRDGOLD (NYSE:DRD) Might Have The Makings Of A Multi-Bagger

If you're looking for a multi-bagger, there's a few things to keep an eye out for. Amongst other things, we'll want to...
Seeking Alpha • Jun 03

DRDGOLD: Minting Gold From Waste

Summary DRDGOLD Limited is a standout gold mining company with an exceptional business model that focuses on reprocessing historical waste tailings and extracting leftover precious metals, making it perfect for the current ESG-focused investing environment. DRD has very high operating leverage to higher gold prices, and with inflation expectations potentially becoming unanchored, gold prices could be driven significantly higher, benefiting DRD. Although DRDGOLD's valuation is stretched, its stock price is likely to continue trading higher as long as gold prices maintain positive momentum. Read the full article on Seeking Alpha
Analysis Article • May 05

Here's Why DRDGOLD (NYSE:DRD) Has Caught The Eye Of Investors

The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...
Analysis Article • Mar 29

DRDGOLD's (NYSE:DRD) Returns On Capital Are Heading Higher

Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
Seeking Alpha • Jan 11

DRDGold: Bullish On Easing Cost Pressures Into Gold Momentum

Summary DRDGOLD is trading at a 9-month high, rallying alongside the price of gold. While 2022 results were impacted by inflationary cost pressures, we see margins improving going forward as a tailwind for earnings. We like DRD for its unhedged production profile and compelling 4% dividend yield. DRDGOLD Limited (DRD) is a leader in gold tailings retreatment which is the process of recovering precious metals from traditional mining waste. The model is recognized as environmentally conscious with attractive economics generating consistent profitability. We last covered the stock early last year, taking a decisively bullish view citing strength in the price of gold (GLD) at the time, and what we believed to be compelling value relative to sector peers. For what it's worth, DRD has delivered a positive return over the period, even as most of 2022 was defined by extreme volatility with earnings hit through inflationary cost pressures. Fast forward, our update today highlights a new wave of momentum in gold while many of those same cost challenges have reversed amid declining energy and logistics expenses setting up a boost to mining margins going forward. In our view, DRD remains a top-tier gold play with a generous dividend yield above 4% standing out as a compelling income idea in the sector. Macro tailwinds supporting further upside in gold prices can send DRD higher in 2023. DRD Key Metrics DRD released its fiscal 2022 year-end report back in August for the period ending June 30th. As a South Africa-based company, financials are only disclosed on a semi-annual basis. Last year, the revenue of R$5.1 billion "Rand" decreased by 3% year over year. This considers nearly flat gold production at 5,720kg, or 183k ounces, while the average price received was 3% lower. Total volumes processed for the year were slightly lower given disruptions from a heavy rainfall event at the "Ergo Mining" facility. This was balanced by a tick higher in the group-wide yield to 0.207 grams per ton compared to 0.20 g/t in the first half. source: company IR Going through the financials, the bigger story last year was a drop in the gross profit, down -27% y/y largely reflecting higher mining costs, particularly against a tough comparison period in 2021. The total all-in-sustaining cost ((AISC)) climbed 5% for the year with the margin at 19.4% declining from a materially larger 31.8% in 2021. Again, key operational inputs from consumables, materials, labor, and electricity played a role through higher prices. The cost of diesel was cited as driving the total cash operating cost at the "Ergo Mining" facility to $1470/oz compared to $1,272 in 2021. Separately, administrative expenses were also higher last year with some spending towards IT upgrades within operating charges. source: company IR Nevertheless, the takeaway here is that DRD remained profitable with a net income of R$1.1 billion for the year, translating to approximately $650 million at the current exchange rate. For 2022, DRD generated R$871 million in free cash flow or $51 million in dollars. From that amount, the company distributed approximately 60% of free cash flow as a dividend on common shares with the last payout of $0.20 per share for ADR holders distributed in September. Notably, this was the 20th consecutive year of regular distribution. source: company IR The latest update from the company came in October with a quarterly operational summary. Metrics like production, yield, and gold sold were nearly flat from the prior quarter. For the rest of 2023, several capital spending projects are planned including infrastructure updates and the expansion of a solar power source at Ergo. Still, management confirmed that with an ongoing "favorable position", a cash dividend will be considered around February in line with its complete interim financial results. In terms of guidance, the target we have is for 2023 gold production between 160k and 180k ounces. If confirmed, the high-end rate is nearly flat compared to 183k in 2022 between the Far West Gold Recoveries ((FWGR)) operation and Ergo. source: company IR What's Next For DRD? The bullish case for DRD beyond higher gold prices comes down to the tailwind of declining cost pressures. Going back to that graphic as the breakdown of operating costs, the setup here is a materially more favorable operating environment for key components between materials and electricity "energy" into 2023 compared to conditions last year defined by global supply chain disruptions and even the energy crisis. In other words, key financial and operating benchmarks including metrics like the AISC and cash costs can trend lower which can be directly positive for earnings. Better than expected margins, incremental to the top-line momentum as the rally in gold accelerates can be a very strong tailwind for shares of DRD. On that point, it's encouraging that gold has climbed above a key technical level of ~$1,825 which has bounced around as support and resistance over the past two years. Up more than 16% off the lows in November, we're watching an emerging breakout higher. The setup here is supported by macro trends including a weaker U.S. Dollar that has coincided with signs inflation has peaked worldwide, opening a door for the Fed to ease off its aggressively hawkish monetary policy stance. Risks assets benefit, with gold reacting to the shift in real interest rates as long-term Treasury yields pullback. We believe this trend can continue.
Analysis Article • Nov 22

We Take A Look At Whether DRDGOLD Limited's (NYSE:DRD) CEO May Be Underpaid

The impressive results at DRDGOLD Limited ( NYSE:DRD ) recently will be great news for shareholders. At the upcoming...

Shareholder Returns

DRDUS Metals and MiningUS Market
7D2.2%-0.4%0.6%
1Y62.1%64.8%20.1%

Return vs Industry: DRD underperformed the US Metals and Mining industry which returned 64.8% over the past year.

Return vs Market: DRD exceeded the US Market which returned 20.1% over the past year.

Price Volatility

Is DRD's price volatile compared to industry and market?
DRD volatility
DRD Average Weekly Movement7.3%
Metals and Mining Industry Average Movement10.1%
Market Average Movement7.1%
10% most volatile stocks in US Market16.3%
10% least volatile stocks in US Market3.1%

Stable Share Price: DRD has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: DRD's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1895n/aNiel Pretoriuswww.drdgold.com

DRDGOLD Limited, a gold mining company, engages in the extraction of gold from the retreatment of surface mine tailings in South Africa. It sells gold and silver bullion. It is involved in provision care and maintenance services; produces renewable power; employee home loans; and operation of training center.

DRDGOLD Limited Fundamentals Summary

How do DRDGOLD's earnings and revenue compare to its market cap?
DRD fundamental statistics
Market capUS$2.10b
Earnings (TTM)US$197.56m
Revenue (TTM)US$563.57m
10.6x
P/E Ratio
3.7x
P/S Ratio

Is DRD overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
DRD income statement (TTM)
RevenueR9.13b
Cost of RevenueR4.85b
Gross ProfitR4.28b
Other ExpensesR1.08b
EarningsR3.20b

Last Reported Earnings

Dec 31, 2025

Next Earnings Date

Aug 19, 2026

Earnings per share (EPS)36.90
Gross Margin46.89%
Net Profit Margin35.06%
Debt/Equity Ratio0%

How did DRD perform over the long term?

See historical performance and comparison

Dividends

2.6%
Current Dividend Yield
24%
Payout Ratio

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/08/17 18:41
End of Day Share Price 2026/08/14 00:00
Earnings2025/12/31
Annual Earnings2025/06/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

DRDGOLD Limited is covered by 13 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Herbert KharivheAbsa Bank Limited
Avishkar NagaserBofA Global Research
Arnold van GraanCIBC Capital Markets