TRX Gold (NYSEAMERICAN:TRX) Stock Price Up 1.8% – What’s Next?

TRX Gold Co. (NYSEAMERICAN:TRX)’s stock price was up 1.8% on Wednesday . The company traded as high as $0.8941 and last traded at $0.84. 1,200,640 shares were traded during trading, a decline of 34% from the average session volume of 1,814,323 shares. The stock had previously closed at $0.8250.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and set a $2.30 target price on shares of TRX Gold in a report on Monday, June 8th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, TRX Gold presently has an average rating of “Buy” and an average target price of $2.27.

TRX Gold Stock Performance

The stock has a market cap of $275.07 million, a price-to-earnings ratio of -12.00 and a beta of 0.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.52 and a current ratio of 2.37. The company’s 50 day simple moving average is $1.06 and its 200 day simple moving average is $1.27.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Marshall Wace LLP acquired a new stake in shares of TRX Gold during the fourth quarter worth $1,658,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of TRX Gold by 128.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,713,800 shares of the company’s stock valued at $4,039,000 after purchasing an additional 1,524,403 shares during the last quarter. Hillsdale Investment Management Inc. boosted its position in shares of TRX Gold by 144.1% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,817,781 shares of the company’s stock valued at $1,685,000 after purchasing an additional 1,073,200 shares during the period. Renaissance Technologies LLC acquired a new position in shares of TRX Gold in the 1st quarter valued at $1,227,000. Finally, Jane Street Group LLC raised its holdings in TRX Gold by 4,455.7% during the 4th quarter. Jane Street Group LLC now owns 729,779 shares of the company’s stock worth $672,000 after buying an additional 713,760 shares during the period. Institutional investors 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.