3,273,169 Shares in TRX Gold Co. $TRX Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. bought a new position in TRX Gold Co. (NYSEAMERICAN:TRX) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 3,273,169 shares of the company’s stock, valued at approximately $2,813,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. State of Wyoming bought a new stake in shares of TRX Gold during the second quarter valued at about $74,000. Avior Wealth Management LLC purchased a new stake in shares of TRX Gold in the second quarter worth about $53,000. Bank of America Corp DE boosted its position in shares of TRX Gold by 1,622.0% in the first quarter. Bank of America Corp DE now owns 88,254 shares of the company’s stock valued at $132,000 after acquiring an additional 83,129 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of TRX Gold in the first quarter valued at approximately $126,000. Finally, Renaissance Technologies LLC purchased a new position in TRX Gold during the first quarter valued at approximately $1,227,000. Hedge funds and other institutional investors own 1.06% of the company’s stock.

Wall Street Analyst Weigh In

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 research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $2.27.

TRX Gold Stock Down 5.7%

Shares of NYSEAMERICAN TRX opened at $1.15 on Friday. The stock has a market capitalization of $377.58 million, a P/E ratio of -19.16 and a beta of 0.32. TRX Gold Co. has a one year low of $0.35 and a one year high of $2.80. The firm’s 50 day simple moving average is $0.91 and its two-hundred day simple moving average is $1.22. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.20 and a quick ratio of 1.45.

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.