TRX Gold (NYSE:TRX) Trading 0.6% Higher – Here’s Why

TRX Gold Co. (NYSE:TRX) shares rose 0.6% during mid-day trading on Wednesday . The stock traded as high as $0.9650 and last traded at $0.9590. Approximately 916,836 shares traded hands during mid-day trading, a decline of 9% from the average daily volume of 1,006,607 shares. The stock had previously closed at $0.9532.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TRX shares. HC Wainwright raised their price objective on shares of TRX Gold from $1.20 to $1.40 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Roth Capital reaffirmed a “buy” rating and set a $1.25 price target on shares of TRX Gold in a research report on Friday, December 12th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, TRX Gold currently has a consensus rating of “Buy” and a consensus price target of $1.33.

TRX Gold Trading Up 0.6%

The firm has a market cap of $274.14 million, a P/E ratio of -34.20 and a beta of 0.32. The business’s 50-day moving average is $0.73 and its two-hundred day moving average is $0.53. The company has a current ratio of 0.83, a quick ratio of 0.51 and a debt-to-equity ratio of 0.03.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC boosted its holdings in shares of TRX Gold by 157.7% during the second quarter. Jane Street Group LLC now owns 108,573 shares of the company’s stock valued at $36,000 after acquiring an additional 66,437 shares during the period. BNP Paribas Financial Markets lifted its position in TRX Gold by 7.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 454,570 shares of the company’s stock valued at $152,000 after purchasing an additional 31,203 shares during the last quarter. Evergreen Capital Management LLC acquired a new position in TRX Gold during the 2nd quarter valued at about $136,000. Virginia Wealth Management Group Inc. acquired a new position in TRX Gold during the 3rd quarter valued at about $62,000. Finally, Strategic Planning Inc. bought a new position in TRX Gold in the 3rd quarter worth about $205,000. 1.06% of the stock is currently owned by institutional investors.

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.