TRX Gold (NYSEAMERICAN:TRX) Trading Down 8.3% – What’s Next?

Shares of TRX Gold Co. (NYSEAMERICAN:TRX) dropped 8.3% on Friday . The company traded as low as $1.60 and last traded at $1.5950. Approximately 3,911,237 shares were traded during trading, a decline of 52% from the average daily volume of 8,193,628 shares. The stock had previously closed at $1.74.

Analyst Upgrades and Downgrades

A number of research firms have commented on TRX. Roth Mkm set a $2.25 target price on shares of TRX Gold and gave the stock a “buy” rating in a research note on Monday, February 9th. HC Wainwright increased their price objective on shares of TRX Gold from $1.50 to $2.30 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $2.28.

TRX Gold Stock Down 8.0%

The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.56 and a current ratio of 1.09. The firm has a market capitalization of $504.51 million, a PE ratio of -160.00 and a beta of 0.33. The company has a fifty day moving average price of $1.49 and a 200-day moving average price of $0.95.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP bought a new stake in TRX Gold during the fourth quarter worth approximately $1,658,000. Hillsdale Investment Management Inc. lifted its stake in shares of TRX Gold by 144.1% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,817,781 shares of the company’s stock valued at $1,685,000 after purchasing 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 4th quarter. Jane Street Group LLC now owns 729,779 shares of the company’s stock worth $672,000 after purchasing an additional 713,760 shares during the period. Evergreen Capital Management LLC bought a new position in shares of TRX Gold during the 2nd quarter valued at approximately $136,000. Finally, Strategic Planning Inc. bought a new position in shares of TRX Gold during the 3rd quarter valued at approximately $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.