TRX Gold (NYSEAMERICAN:TRX) Shares Up 1.8% – Here’s Why

TRX Gold Co. (NYSEAMERICAN:TRX)’s share price was up 1.8% on Wednesday . The stock traded as high as $0.8941 and last traded at $0.84. Approximately 1,200,640 shares changed hands during mid-day trading, a decline of 34% from the average session volume of 1,814,323 shares. The stock had previously closed at $0.8250.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and set a $2.30 target price on shares of TRX Gold in a report on Monday, June 8th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $2.27.

TRX Gold Stock Performance

The stock’s 50-day moving average price is $1.05 and its 200-day moving average price is $1.27. The company has a current ratio of 2.37, a quick ratio of 1.52 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $268.53 million, a P/E ratio of -11.71 and a beta of 0.30.

Hedge Funds Weigh In On TRX Gold

A number of large investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership boosted its stake in TRX Gold by 128.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,713,800 shares of the company’s stock valued at $4,039,000 after acquiring an additional 1,524,403 shares during the period. Hillsdale Investment Management Inc. lifted its holdings 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 worth $1,685,000 after purchasing an additional 1,073,200 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of TRX Gold in the 4th quarter worth approximately $1,658,000. Renaissance Technologies LLC bought a new stake in shares of TRX Gold in the 1st quarter worth approximately $1,227,000. Finally, Jane Street Group LLC boosted its position in TRX Gold by 4,455.7% during the 4th quarter. Jane Street Group LLC now owns 729,779 shares of the company’s stock valued at $672,000 after purchasing an additional 713,760 shares during the period. Institutional investors own 1.06% of the company’s stock.

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.