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Investing.com - H.C. Wainwright has reiterated its Buy rating and $18.75 price target on DRDGOLD Ltd . (NYSE:DRD), a prominent player in the Metals & Mining industry with a market capitalization of $1.33 billion, following the company’s fiscal year 2024 financial results. InvestingPro analysis indicates the company maintains GREAT financial health with strong profitability metrics.
The gold mining company reported annual revenue of R7,878.2 million (approximately $445.0 million), representing a 26% increase compared to the previous year. This growth translated to net income of R2.59 (approximately $0.146) per share, significantly higher than the R1.54 per share reported in fiscal year 2023. The company’s strong performance has contributed to an impressive 80.38% year-to-date return.
DRDGOLD’s revenue growth was primarily driven by a 35% increase in the average realized gold price to $2,797 per ounce, which helped boost operating profit to R3,523.6 million (approximately $199.0 million), a 69% year-over-year increase.
The company declared a cash dividend of R0.40 per share (approximately $0.023) for the period, doubling the R0.20 per share dividend paid in the previous fiscal year.
DRDGOLD maintained a cash balance of R1,306.2 million (approximately $73.9 million) at the end of the fiscal year, which H.C. Wainwright expects to increase as the company generates additional cash flow in the future. The company’s strong liquidity position is reflected in its healthy current ratio of 2.34, indicating robust short-term financial stability.
In other recent news, DRDGOLD Limited reported significant financial gains for the year ended June 30, 2025. The company announced a 26% increase in revenue, reaching R7,878.2 million, compared to R6,239.7 million in the previous year. Operating profit saw a substantial rise of 69%, amounting to R3,523.6 million, up from R2,081.3 million the previous year. Earnings per share also experienced a 69% increase, climbing to 260.1 South African cents from 154.3 cents a year earlier. Headline earnings per share mirrored this growth with a similar rise to 260.6 cents. In addition to these financial achievements, DRDGOLD declared a final cash dividend, reflecting its solid performance over the year. These developments underscore a period of robust growth for the company.
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