TRX Gold Co. (NYSEAMERICAN:TRX) Stock Short Interest Report for September

Key Points

• TRX Gold’s short interest more than doubled in September, rising 104.1% to 4.29 million shares as of September 30. Short interest represented 1.3% of shares outstanding, with a days-to-cover ratio of 1.0.
• Several institutional investors increased or initiated positions, including Arrowstreet Capital, which boosted its stake by 128.2%. Institutional investors and hedge funds collectively owned 1.06% of TRX Gold.
• TRX Gold shares were trading at $1.05, down 8.7%, with the stock below its 50-day moving average of $1.17. The company’s Buckreef Gold Project in Tanzania remains its principal asset and includes active gold production and expansion potential.

TRX Gold Co. (NYSEAMERICAN:TRX - Get Free Report) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totaling 4,291,996 shares, a growth of 104.1% from the September 15th total of 2,103,394 shares. Based on an average trading volume of 4,440,197 shares, the days-to-cover ratio is currently 1.0 days. Currently, 1.3% of the shares of the stock are short sold.

Hedge Funds Weigh In On TRX Gold

Several institutional investors and hedge funds have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in TRX Gold in the 2nd quarter valued at $2,813,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of TRX Gold by 128.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,713,800 shares of the company's stock worth $4,039,000 after purchasing an additional 1,524,403 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of TRX Gold during the first quarter worth $1,227,000. Navellier & Associates Inc. boosted its holdings in shares of TRX Gold by 4.7% during the second quarter. Navellier & Associates Inc. now owns 379,726 shares of the company's stock worth $313,000 after purchasing an additional 16,997 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of TRX Gold in the first quarter valued at $177,000. Hedge funds and other institutional investors own 1.06% of the company's stock.

TRX Gold Trading Down 8.7%

TRX opened at $1.05 on Wednesday. The business's fifty day simple moving average is $1.17 and its 200 day simple moving average is $1.10. TRX Gold has a 52 week low of $0.54 and a 52 week high of $2.80. The company has a quick ratio of 1.45, a current ratio of 2.20 and a debt-to-equity ratio of 0.03.

About TRX Gold

TRX Gold Corporation is a Canadian-based gold exploration, development and production company focused on the Buckreef Gold Project in north-central Tanzania. The company's common shares trade on the NYSE American under the symbol TRX and on the Toronto Stock Exchange under the symbol TNX.

Buckreef Gold is the company's principal asset and includes open-pit mining and ore-processing operations, along with significant exploration and development potential. TRX Gold produces gold doré and continues to invest in expanding processing capacity, improving operations and evaluating additional mineral resources across the project area.

The Buckreef project is operated through a joint venture with Tanzania's State Mining Corporation, giving TRX Gold a long-term operating presence in Tanzania.

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