TRX Gold (NYSEAMERICAN:TRX) Shares Gap Down – What’s Next?

TRX Gold Co. (NYSEAMERICAN:TRX) shares gapped down prior to trading on Tuesday . The stock had previously closed at $1.73, but opened at $1.61. TRX Gold shares last traded at $1.6650, with a volume of 2,287,198 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TRX shares. Roth Mkm set a $2.25 price objective on TRX Gold and gave the company a “buy” rating in a research report on Monday, February 9th. HC Wainwright increased their price target on TRX Gold from $1.40 to $1.50 and gave the company a “buy” rating in a report on Friday, January 16th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $1.88.

TRX Gold Stock Down 5.2%

The company has a market cap of $517.12 million, a P/E ratio of -164.00 and a beta of 0.32. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.56 and a current ratio of 1.09. The business’s fifty day moving average is $1.17 and its two-hundred day moving average is $0.78.

TRX Gold (NYSEAMERICAN:TRX) last issued its earnings results on Thursday, January 15th. The company reported ($0.01) EPS for the quarter. TRX Gold had a positive return on equity of 10.43% and a negative net margin of 6.36%. Equities analysts predict that TRX Gold Co. will post 0.04 EPS for the current year.

Institutional Trading of TRX Gold

A number of hedge funds have recently added to or reduced their stakes in TRX. Sprott Inc. increased its position in TRX Gold by 34.9% during the 4th quarter. Sprott Inc. now owns 95,721 shares of the company’s stock valued at $88,000 after purchasing an additional 24,746 shares during the period. BNP Paribas Financial Markets lifted its holdings in 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 buying an additional 27,966 shares during the period. MAI Capital Management bought a new stake in TRX Gold during the 3rd quarter valued at $30,000. Jane Street Group LLC increased its holdings in shares of TRX Gold by 157.7% in the 2nd 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. Finally, Virginia Wealth Management Group Inc. bought a new position in shares of TRX Gold in the 3rd quarter worth $62,000. 1.06% of the stock is owned by hedge funds and other 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.