TRX Gold (NYSE:TRX) Trading 6% Higher - What's Next?

TRX Gold Co. (NYSE:TRX - Get Free Report)'s stock price rose 6% on Monday . The stock traded as high as $0.36 and last traded at $0.35. Approximately 744,724 shares traded hands during trading, an increase of 74% from the average daily volume of 427,083 shares. The stock had previously closed at $0.33.

Analyst Ratings Changes

Separately, Wall Street Zen assumed coverage on shares of TRX Gold in a research note on Thursday, May 22nd. They issued a "hold" rating on the stock.

TRX Gold Stock Performance

The company has a current ratio of 0.83, a quick ratio of 0.51 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average price of $0.33 and a two-hundred day moving average price of $0.32. The company has a market cap of $91.65 million, a price-to-earnings ratio of -32.40 and a beta of 0.24.

Hedge Funds Weigh In On TRX Gold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sprott Inc. grew its holdings in TRX Gold by 506.7% during the fourth quarter. Sprott Inc. now owns 145,454 shares of the company's stock valued at $45,000 after purchasing an additional 121,479 shares during the period. Financial Sense Advisors Inc. grew its stake in TRX Gold by 41.5% in the first quarter. Financial Sense Advisors Inc. now owns 238,483 shares of the company's stock valued at $74,000 after acquiring an additional 70,000 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of TRX Gold in the fourth quarter worth about $120,000. Finally, Rossby Financial LCC bought a new stake in shares of TRX Gold in the fourth quarter worth about $255,000. 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.