TRX Gold (NYSE:TRX) Stock Price Down 1.2% - Here's What Happened

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) shares fell 1.2% on Tuesday . The stock traded as low as $0.36 and last traded at $0.37. 932,587 shares changed 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.

Analysts Set New Price Targets

A number of research firms recently commented on TRX. HC Wainwright increased their target price on shares of TRX Gold from $1.00 to $1.10 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Wall Street Zen began coverage on shares of TRX Gold in a research report on Thursday, May 22nd. They set a "hold" rating for the company.

TRX Gold Price Performance

The stock's 50-day moving average is $0.35 and its 200 day moving average is $0.32. 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 company has a market cap of $100.33 million, a PE ratio of -34.20 and a beta of 0.23.

Institutional Investors Weigh In On TRX Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new position in TRX Gold during the 4th quarter valued at approximately $120,000. Financial Sense Advisors Inc. increased its stake in 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 purchasing an additional 70,000 shares in the last quarter. Rossby Financial LCC increased its stake in TRX Gold by 15.7% during 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. Finally, Jane Street Group LLC increased its stake in TRX Gold by 157.7% during the 2nd quarter. Jane Street Group LLC now owns 108,573 shares of the company's stock valued at $36,000 after purchasing an additional 66,437 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.