TRX Gold (NYSEAMERICAN:TRX) Stock Price Up 11% – Here’s Why

TRX Gold Co. (NYSEAMERICAN:TRX)’s stock price rose 11% on Monday . The stock traded as high as $1.70 and last traded at $1.7650. Approximately 3,119,811 shares were traded 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.

Analyst Upgrades and Downgrades

TRX has been the subject of a number of research reports. HC Wainwright increased their target price on shares of 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 objective on shares of TRX Gold and gave the company a “buy” rating in a research note on Monday. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $1.88.

TRX Gold Stock Up 15.1%

The stock has a market capitalization of $527.33 million, a price-to-earnings ratio of -183.00 and a beta of 0.32. The company has a quick ratio of 0.56, a current ratio of 1.09 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average price of $1.06 and a 200 day moving average price of $0.72.

TRX Gold (NYSEAMERICAN:TRX) last released its quarterly earnings data 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, analysts forecast that TRX Gold Co. will post 0.04 EPS for the current year.

Institutional Trading of TRX Gold

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hillsdale Investment Management Inc. bought a new position in TRX Gold during the 3rd quarter worth $471,000. BNP Paribas Financial Markets raised its position in shares of TRX Gold by 6.2% during the third quarter. BNP Paribas Financial Markets now owns 482,536 shares of the company’s stock worth $301,000 after acquiring an additional 27,966 shares during the last quarter. Citadel Advisors LLC lifted its stake in shares of TRX Gold by 50.4% in the third quarter. Citadel Advisors LLC now owns 442,851 shares of the company’s stock worth $276,000 after acquiring an additional 148,330 shares during the period. Evergreen Capital Management LLC bought a new stake in TRX Gold in the second quarter valued at approximately $136,000. Finally, Strategic Planning Inc. bought a new stake in TRX Gold in the third quarter valued at approximately $205,000. 1.06% of the stock is currently owned by institutional investors and hedge funds.

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.