TRX Gold (NYSEAMERICAN:TRX) Trading Down 1.3% - Here's What Happened

Key Points

• TRX Gold's stock slid 1.3% in mid-day trading to about $1.53, with 3.18 million shares traded — a 31% drop from its average session volume and down from a prior close of $1.55.
• Analysts are bullish: two firms rate TRX a Buy with an average price target of $2.28 (HC Wainwright raised its target to $2.30 and Roth MKM set $2.25).
• The company has a market cap of roughly $498 million, reported ($0.01) EPS last quarter with analysts projecting $0.04 for the year, and institutional investors own about 1.06% of the shares.

TRX Gold Co. (NYSEAMERICAN:TRX - Get Free Report)'s stock price fell 1.3% during mid-day trading on Tuesday . The company traded as low as $1.48 and last traded at $1.53. 3,180,224 shares were traded during mid-day trading, a decline of 31% from the average session volume of 4,585,234 shares. The stock had previously closed at $1.55.

Analyst Ratings Changes

A number of research firms have issued reports on TRX. HC Wainwright lifted their price objective on TRX Gold from $1.50 to $2.30 and gave the stock a "buy" rating in a research note on Monday, March 2nd. Roth Mkm set a $2.25 price objective on TRX Gold and gave the stock a "buy" rating in a research note on Monday, February 9th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $2.28.

TRX Gold Trading Down 1.3%

The stock has a market cap of $498.29 million, a PE ratio of -153.00 and a beta of 0.48. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.56 and a current ratio of 1.09. The stock has a fifty day moving average price of $1.64 and a 200 day moving average price of $1.09.

TRX Gold (NYSEAMERICAN:TRX - Get Free Report) last announced its earnings results on Thursday, January 15th. The company reported ($0.01) EPS for the quarter. TRX Gold had a positive return on equity of 10.43% and a negative net margin of 6.36%. Equities analysts expect that TRX Gold Co. will post 0.04 EPS for the current year.

Hedge Funds Weigh In On TRX Gold

Institutional investors and hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers boosted its holdings in shares of TRX Gold by 54.4% in the 4th quarter. Cetera Investment Advisers now owns 28,373 shares of the company's stock worth $26,000 after purchasing an additional 10,000 shares during the period. MAI Capital Management purchased a new stake in shares of TRX Gold in the 3rd quarter worth $30,000. Jane Street Group LLC lifted its holdings in shares of TRX Gold by 157.7% in the 2nd quarter. Jane Street Group LLC now owns 108,573 shares of the company's stock worth $36,000 after buying an additional 66,437 shares during the period. SPWM Advisors LLC purchased a new stake in shares of TRX Gold in the 4th quarter worth $51,000. Finally, Virginia Wealth Management Group Inc. purchased a new stake in shares of TRX Gold in the 3rd quarter worth $62,000. Hedge funds and other institutional investors own 1.06% of the company's stock.

About TRX Gold

TRX Gold Corporation engages in the exploration, development, and production of mineral property interests in the United Republic of Tanzania. The company primarily explores for gold deposits. It holds interests in the Buckreef gold project that comprises a single Special Mining License covering an area of 16.04 square kilometers and 12 Prospecting Licenses covering 98.19 square kilometers located in north-central Tanzania. The company was formerly known as Tanzanian Gold Corporation and changed its name to TRX Gold Corporation in May 2022.

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