TRX Gold (NYSEAMERICAN:TRX) Trading 6.4% Higher – Here’s Why

TRX Gold Co. (NYSEAMERICAN:TRX)’s share price rose 6.4% during mid-day trading on Monday . The company traded as high as $1.89 and last traded at $1.9050. Approximately 2,423,855 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 9,029,577 shares. The stock had previously closed at $1.79.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TRX. HC Wainwright increased their price objective on shares of TRX Gold from $1.40 to $1.50 and gave the stock a “buy” rating in a research report on Friday, January 16th. Roth Mkm set a $2.25 price target on TRX Gold and gave the stock a “buy” rating in a research note on Monday, February 9th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, TRX Gold has an average rating of “Buy” and an average target price of $1.88.

TRX Gold Stock Up 2.9%

The firm’s fifty day simple moving average is $1.24 and its 200 day simple moving average is $0.82. The company has a current ratio of 1.09, a quick ratio of 0.56 and a debt-to-equity ratio of 0.04. The company has a market cap of $580.82 million, a price-to-earnings ratio of -184.20 and a beta of 0.32.

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

Hedge Funds Weigh In On TRX Gold

Several hedge funds have recently made changes to their positions in the company. Marshall Wace LLP purchased a new stake in shares of TRX Gold in the 4th quarter valued at about $1,658,000. Hillsdale Investment Management Inc. lifted its stake in TRX Gold by 144.1% in the fourth quarter. Hillsdale Investment Management Inc. now owns 1,817,781 shares of the company’s stock valued at $1,685,000 after buying an additional 1,073,200 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of TRX Gold by 4,455.7% in the fourth quarter. Jane Street Group LLC now owns 729,779 shares of the company’s stock valued at $672,000 after acquiring an additional 713,760 shares during the period. Evergreen Capital Management LLC purchased a new position in shares of TRX Gold during the second quarter worth approximately $136,000. Finally, Strategic Planning Inc. acquired a new position in shares of TRX Gold in the 3rd quarter valued at $205,000. Hedge funds and other 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.