TRX Gold Co. (NYSEAMERICAN:TRX) Shares Shorted: Short Interest Up 104.1% in September

TRX Gold Co. (NYSEAMERICAN:TRX) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 4,291,996 shares, an increase of 104.1% from the September 15th total of 2,103,394 shares. Based on an average daily volume of 4,440,197 shares, the short-interest ratio is presently 1.0 days. Approximately 1.3% of the company’s shares are sold short.

TRX Gold Stock Performance

Shares of TRX opened at $1.06 on Friday. The firm’s 50-day moving average price is $1.17 and its 200-day moving average price is $1.10. The company has a quick ratio of 1.45, a current ratio of 2.20 and a debt-to-equity ratio of 0.03. TRX Gold has a 1-year low of $0.54 and a 1-year high of $2.80.

Institutional Investors Weigh In On TRX Gold

Several hedge funds have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its position in TRX Gold by 128.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,713,800 shares of the company’s stock valued at $4,039,000 after buying an additional 1,524,403 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of TRX Gold during the 2nd quarter valued at $2,813,000. Renaissance Technologies LLC purchased a new stake in shares of TRX Gold in the 1st quarter worth about $1,227,000. Howard Capital Management LLC purchased a new stake in shares of TRX Gold in the 3rd quarter worth about $1,045,000. Finally, Navellier & Associates Inc. grew its position in shares of TRX Gold by 4.7% in the 2nd quarter. Navellier & Associates Inc. now owns 379,726 shares of the company’s stock worth $313,000 after buying an additional 16,997 shares during the period. 1.06% of the stock is currently owned by institutional investors.

About TRX Gold

TRX Gold Corporation is a Canadian-based gold exploration, development and production company focused on the Buckreef Gold Project in north-central Tanzania. The company’s common shares trade on the NYSE American under the symbol TRX and on the Toronto Stock Exchange under the symbol TNX.

Buckreef Gold is the company’s principal asset and includes open-pit mining and ore-processing operations, along with significant exploration and development potential. TRX Gold produces gold doré and continues to invest in expanding processing capacity, improving operations and evaluating additional mineral resources across the project area.

The Buckreef project is operated through a joint venture with Tanzania’s State Mining Corporation, giving TRX Gold a long-term operating presence in Tanzania.