TRX Gold (NYSEAMERICAN:TRX) Trading 11% Higher – Here’s Why

TRX Gold Co. (NYSEAMERICAN:TRX) shares rose 11% during trading on Monday . The company traded as high as $1.70 and last traded at $1.7650. Approximately 3,119,811 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 10,041,546 shares. The stock had previously closed at $1.59.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TRX shares. HC Wainwright boosted their price objective on TRX Gold from $1.40 to $1.50 and gave the stock a “buy” rating in a 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 report on Monday. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, TRX Gold currently has a consensus rating of “Buy” and a consensus target price of $1.88.

TRX Gold Stock Performance

The stock has a market cap of $527.33 million, a P/E ratio of -183.00 and a beta of 0.32. 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 stock has a 50 day simple moving average of $1.06 and a 200 day simple moving average of $0.72.

TRX Gold (NYSEAMERICAN:TRX) last released its earnings results on Thursday, January 15th. The company reported ($0.01) earnings per share for the quarter. TRX Gold had a negative net margin of 6.36% and a positive return on equity of 10.43%. On average, equities analysts expect 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 and other institutional investors have recently made changes to their positions in TRX. Jane Street Group LLC lifted its holdings in shares of TRX Gold by 157.7% during 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 during the period. BNP Paribas Financial Markets lifted its stake in TRX Gold by 7.4% during the second quarter. BNP Paribas Financial Markets now owns 454,570 shares of the company’s stock worth $152,000 after purchasing an additional 31,203 shares during the last quarter. Evergreen Capital Management LLC acquired a new stake in shares of TRX Gold in the 2nd quarter valued at $136,000. Virginia Wealth Management Group Inc. bought a new position in shares of TRX Gold in the 3rd quarter valued at $62,000. Finally, Strategic Planning Inc. acquired a new position in shares of TRX Gold during the 3rd quarter worth $205,000. 1.06% of the stock is currently owned by institutional investors and hedge funds.

TRX Gold Company 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.