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

Shares of TRX Gold Co. (NYSEAMERICAN:TRX) gapped down prior to trading 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 trading hands.

Wall Street Analyst Weigh In

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

TRX Gold Stock Down 21.8%

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.09 and a quick ratio of 0.56. The stock has a market capitalization of $491.31 million, a P/E ratio of -171.50 and a beta of 0.29. The stock’s fifty day moving average is $0.95 and its two-hundred day moving average is $0.67.

TRX Gold (NYSEAMERICAN:TRX) last announced its earnings results on Thursday, January 15th. The company reported ($0.01) 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, research analysts predict that TRX Gold Co. will post 0.04 earnings per share for the current fiscal year.

Institutional Trading of TRX Gold

Hedge funds and other institutional investors have recently modified their holdings of the business. Hillsdale Investment Management Inc. acquired a new position in shares of TRX Gold in the 3rd quarter valued at about $471,000. Evergreen Capital Management LLC acquired a new position in shares of TRX Gold in the second quarter worth $136,000. Strategic Planning Inc. acquired a new stake in TRX Gold in the third quarter valued at approximately $205,000. PFG Private Wealth Management LLC acquired a new position in shares of TRX Gold during the 3rd quarter valued at about $182,000. Finally, Citadel Advisors LLC boosted its position in TRX Gold by 50.4% during the third quarter. Citadel Advisors LLC now owns 442,851 shares of the company’s stock worth $276,000 after purchasing an additional 148,330 shares during the period. Institutional investors and hedge funds own 1.06% of the company’s stock.

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.