TRX Gold (NYSEAMERICAN:TRX) Shares Down 11.2% – What’s Next?

TRX Gold Co. (NYSEAMERICAN:TRX)’s stock price was down 11.2% on Tuesday . The company traded as low as $1.72 and last traded at $1.75. Approximately 5,264,766 shares traded hands during trading, a decline of 40% from the average daily volume of 8,738,832 shares. The stock had previously closed at $1.97.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TRX. HC Wainwright boosted their target price on shares of TRX Gold from $1.50 to $2.30 and gave the stock a “buy” rating in a research note on Monday. Roth Mkm set a $2.25 price objective on TRX Gold and gave the stock a “buy” rating in a research note on Monday, February 9th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, TRX Gold currently has an average rating of “Buy” and an average target price of $2.28.

TRX Gold Stock Performance

The stock has a market cap of $543.93 million, a price-to-earnings ratio of -172.50 and a beta of 0.32. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.09 and a quick ratio of 0.56. The firm has a fifty day moving average of $1.36 and a 200 day moving average of $0.88.

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

Hedge Funds Weigh In On TRX Gold

A number of institutional investors have recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in TRX Gold in the 4th quarter valued at about $103,000. SPWM Advisors LLC purchased a new stake in shares of TRX Gold during the 4th quarter valued at approximately $51,000. Cetera Investment Advisers lifted its holdings in TRX Gold by 54.4% in the fourth quarter. Cetera Investment Advisers now owns 28,373 shares of the company’s stock valued at $26,000 after acquiring an additional 10,000 shares during the last quarter. Marshall Wace LLP acquired a new position in TRX Gold in the fourth quarter valued at approximately $1,658,000. Finally, Jane Street Group LLC grew its position in TRX Gold by 4,455.7% in the fourth quarter. Jane Street Group LLC now owns 729,779 shares of the company’s stock worth $672,000 after acquiring an additional 713,760 shares during the period. 1.06% of the stock is owned by hedge funds and other institutional investors.

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.