TRX Gold (NYSEAMERICAN:TRX) Shares Gap Down – Here’s Why

TRX Gold Co. (NYSEAMERICAN:TRX) shares gapped down before the market opened on Friday . The stock had previously closed at $2.18, but opened at $1.88. TRX Gold shares last traded at $1.7750, with a volume of 4,558,366 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Roth Mkm reaffirmed a “buy” rating and set a $1.25 target price on shares of TRX Gold in a research report on Friday, December 12th. HC Wainwright boosted their price objective on shares of TRX Gold from $1.40 to $1.50 and gave the stock a “buy” rating in a research note on Friday, January 16th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $1.38.

TRX Gold Trading Down 25.2%

The company has a market capitalization of $469.70 million, a P/E ratio of -163.00 and a beta of 0.29. The company has a 50-day simple moving average of $0.97 and a 200 day simple moving average of $0.68. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.56 and a current ratio of 1.09.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Jane Street Group LLC lifted its stake in shares of TRX Gold by 157.7% in the second quarter. Jane Street Group LLC now owns 108,573 shares of the company’s stock valued at $36,000 after buying an additional 66,437 shares during the period. BNP Paribas Financial Markets raised its holdings 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 acquiring an additional 31,203 shares in the last quarter. Evergreen Capital Management LLC bought a new stake in shares of TRX Gold in the 2nd quarter worth approximately $136,000. Virginia Wealth Management Group Inc. bought a new stake in shares of TRX Gold in the 3rd quarter worth approximately $62,000. Finally, Strategic Planning Inc. acquired a new stake in shares of TRX Gold during the 3rd quarter worth approximately $205,000. Institutional investors and hedge funds 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.