TRX Gold (NYSE:TRX) Stock Price Down 1.2% - What's Next?

Key Points

• TRX Gold's stock price fell by 1.2% to $0.37 during mid-day trading, with trading volume significantly increasing by 89% compared to its average daily volume.
• Recent analyst reports included a "hold" rating from Wall Street Zen and a target price increase to $1.10 from HC Wainwright, who maintained a "buy" rating.
• Institutional investors have recently shown interest in TRX Gold, with notable acquisitions totaling around $375,000 in the fourth quarter and a notable 41.5% increase in holdings by Financial Sense Advisors Inc.

TRX Gold Co. (NYSE:TRX - Get Free Report)'s stock price traded down 1.2% during trading on Tuesday . The company traded as low as $0.36 and last traded at $0.37. 932,587 shares traded hands during mid-day trading, an increase of 89% from the average session volume of 492,266 shares. The stock had previously closed at $0.37.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. HC Wainwright boosted their target price on TRX Gold from $1.00 to $1.10 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Wall Street Zen assumed coverage on TRX Gold in a research report on Thursday, May 22nd. They issued a "hold" rating on the stock.

TRX Gold Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 0.83 and a quick ratio of 0.51. The business has a 50-day simple moving average of $0.35 and a 200-day simple moving average of $0.33. The firm has a market capitalization of $100.33 million, a PE ratio of -34.20 and a beta of 0.23.

Institutional Trading of TRX Gold

Hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC boosted its position 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 purchasing an additional 66,437 shares in the last quarter. Financial Sense Advisors Inc. raised its stake in shares of TRX Gold by 41.5% during the 1st quarter. Financial Sense Advisors Inc. now owns 238,483 shares of the company's stock valued at $74,000 after buying an additional 70,000 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of TRX Gold during the 4th quarter valued at about $120,000. Evergreen Capital Management LLC purchased a new position in shares of TRX Gold in the 2nd quarter valued at about $136,000. Finally, Rossby Financial LCC increased its stake in shares of TRX Gold by 15.7% in the 1st quarter. Rossby Financial LCC now owns 960,000 shares of the company's stock valued at $310,000 after purchasing an additional 130,000 shares in the last quarter. Hedge funds and other institutional investors own 1.06% of the company's stock.

TRX Gold Company Profile

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.