TRX Gold (NYSE:TRX) Stock Price Up 0.6% – Here’s What Happened

TRX Gold Co. (NYSE:TRX)’s stock price shot up 0.6% on Wednesday . The stock traded as high as $0.9650 and last traded at $0.9590. 916,836 shares were traded during mid-day trading, a decline of 9% from the average session volume of 1,006,607 shares. The stock had previously closed at $0.9532.

Wall Street Analysts Forecast Growth

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

TRX Gold Stock Up 0.6%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.51 and a current ratio of 0.83. The firm has a fifty day simple moving average of $0.73 and a 200-day simple moving average of $0.54. The firm has a market cap of $274.14 million, a price-to-earnings ratio of -34.20 and a beta of 0.32.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Hillsdale Investment Management Inc. bought a new stake in shares of TRX Gold during the third quarter worth approximately $471,000. BNP Paribas Financial Markets lifted its holdings in TRX Gold by 6.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 482,536 shares of the company’s stock worth $301,000 after purchasing an additional 27,966 shares during the last quarter. Citadel Advisors LLC boosted its stake in TRX Gold by 50.4% in the 3rd 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. Evergreen Capital Management LLC acquired a new position in TRX Gold in the 2nd quarter valued at $136,000. Finally, Strategic Planning Inc. acquired a new position in TRX Gold in the 3rd quarter valued at $205,000. Institutional investors and hedge funds 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.