Connor Clark & Lunn Investment Management Ltd. Invests $2.81 Million in TRX Gold Co. $TRX

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of TRX Gold Co. (NYSEAMERICAN:TRX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,273,169 shares of the company’s stock, valued at approximately $2,813,000. Connor Clark & Lunn Investment Management Ltd. owned about 1.00% of TRX Gold as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of TRX. Hsbc Holdings PLC bought a new position in TRX Gold during the 1st quarter valued at $25,000. Cetera Investment Advisers boosted its holdings in TRX Gold by 54.4% during the 4th quarter. Cetera Investment Advisers now owns 28,373 shares of the company’s stock worth $26,000 after acquiring an additional 10,000 shares during the last quarter. Jane Street Group LLC grew its stake in shares of 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 acquiring an additional 66,437 shares in the last quarter. SPWM Advisors LLC bought a new stake in shares of TRX Gold in the 4th quarter worth $51,000. Finally, Avior Wealth Management LLC bought a new stake in TRX Gold in the 2nd quarter worth about $53,000. Institutional investors own 1.06% of the company’s stock.

TRX Gold Stock Performance

NYSEAMERICAN TRX opened at $1.15 on Friday. The firm has a market cap of $377.58 million, a P/E ratio of -19.16 and a beta of 0.32. The company has a quick ratio of 1.45, a current ratio of 2.20 and a debt-to-equity ratio of 0.03. The company’s 50 day moving average is $0.91 and its 200-day moving average is $1.22. TRX Gold Co. has a 12-month low of $0.35 and a 12-month high of $2.80.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and set a $2.30 target price on shares of TRX Gold in a research report on Monday, June 8th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $2.27.

TRX Gold 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. The company was formerly known as Tanzanian Gold Corporation and changed its name to TRX Gold Corporation in May 2022.