TRX Gold (NYSEAMERICAN:TRX) Trading Down 8.3% – What’s Next?

TRX Gold Co. (NYSEAMERICAN:TRX) shares dropped 8.3% during mid-day trading on Friday . The stock traded as low as $1.60 and last traded at $1.5950. Approximately 3,911,237 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 8,193,628 shares. The stock had previously closed at $1.74.

Analyst Ratings Changes

Several analysts recently commented on the stock. HC Wainwright increased their price objective on shares of TRX Gold from $1.50 to $2.30 and gave the company a “buy” rating in a research report on Monday, March 2nd. Roth Mkm set a $2.25 target price on shares of TRX Gold and gave the stock a “buy” rating in a report on Monday, February 9th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $2.28.

TRX Gold Price Performance

The stock has a market capitalization of $504.51 million, a P/E ratio of -160.00 and a beta of 0.33. 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 firm has a fifty day moving average price of $1.49 and a two-hundred day moving average price of $0.95.

TRX Gold (NYSEAMERICAN:TRX) last posted its quarterly earnings data on Thursday, January 15th. The company reported ($0.01) EPS for the quarter. TRX Gold had a negative net margin of 6.36% and a positive return on equity of 10.43%. As a group, analysts expect that TRX Gold Co. will post 0.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Hillsdale Investment Management Inc. grew its position in shares of TRX Gold by 144.1% during the 4th quarter. Hillsdale Investment Management Inc. now owns 1,817,781 shares of the company’s stock valued at $1,685,000 after acquiring an additional 1,073,200 shares during the period. Marshall Wace LLP bought a new position in TRX Gold in the 4th quarter worth $1,658,000. Jane Street Group LLC raised its holdings in TRX Gold by 4,455.7% in the 4th quarter. Jane Street Group LLC now owns 729,779 shares of the company’s stock worth $672,000 after purchasing an additional 713,760 shares during the period. BNP Paribas Financial Markets lifted its position in TRX Gold by 6.2% during the third quarter. BNP Paribas Financial Markets now owns 482,536 shares of the company’s stock valued at $301,000 after purchasing an additional 27,966 shares in the last quarter. Finally, Citadel Advisors LLC grew its holdings in TRX Gold by 50.4% during the third quarter. Citadel Advisors LLC now owns 442,851 shares of the company’s stock valued at $276,000 after purchasing an additional 148,330 shares during the period. 1.06% of the stock is currently owned by institutional investors.

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.