TRX Gold (NYSE:TRX) Releases Quarterly Earnings Results

TRX Gold (NYSE:TRX) posted its quarterly earnings results on Thursday. The company reported ($0.01) EPS for the quarter, RTT News reports. TRX Gold had a return on equity of 2.21% and a net margin of 6.11%.

TRX Gold Price Performance

TRX Gold stock opened at $0.92 on Thursday. The firm has a market capitalization of $263.22 million, a P/E ratio of -34.20 and a beta of 0.29. TRX Gold has a one year low of $0.27 and a one year high of $1.02. 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 fifty day moving average price of $0.81 and a 200-day moving average price of $0.60.

Analyst Ratings Changes

Several analysts have issued reports on TRX shares. HC Wainwright boosted their target price on TRX Gold from $1.20 to $1.40 and gave the company a “buy” rating in a research note on Tuesday, December 2nd. Roth Capital reissued a “buy” rating and issued a $1.25 price objective on shares of TRX Gold in a report on Friday, December 12th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $1.33.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TRX. Jane Street Group LLC lifted its stake in 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. Evergreen Capital Management LLC purchased a new position in shares of TRX Gold during the 2nd quarter valued at $136,000. BNP Paribas Financial Markets increased its holdings in shares of TRX Gold by 7.4% in the second quarter. BNP Paribas Financial Markets now owns 454,570 shares of the company’s stock worth $152,000 after purchasing an additional 31,203 shares during the period. Finally, Citadel Advisors LLC raised its position in shares of TRX Gold by 50.4% in the third quarter. Citadel Advisors LLC now owns 442,851 shares of the company’s stock worth $276,000 after buying an additional 148,330 shares in the last quarter. 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.