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

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 changing hands.

Analyst Upgrades and Downgrades

TRX has been the topic of a number of recent research reports. 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 note on Friday, January 16th. Roth Mkm reissued 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, the company presently has an average rating of “Buy” and a consensus price target of $1.38.

TRX Gold Trading Down 21.8%

The company has a market cap of $491.31 million, a P/E ratio of -171.50 and a beta of 0.29. The business has a fifty day simple moving average of $0.95 and a 200 day simple moving average of $0.67. 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 posted its quarterly earnings results on Thursday, January 15th. The company reported ($0.01) earnings per share (EPS) for the quarter. TRX Gold had a negative net margin of 6.36% and a positive return on equity of 10.43%. Analysts anticipate that TRX Gold Co. will post 0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TRX Gold

Several institutional investors and hedge funds have recently bought and sold shares of TRX. Hillsdale Investment Management Inc. bought a new position in TRX Gold in the third quarter worth about $471,000. BNP Paribas Financial Markets lifted its holdings in shares of TRX Gold by 6.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 482,536 shares of the company’s stock worth $301,000 after purchasing an additional 27,966 shares during the last quarter. Citadel Advisors LLC lifted its holdings in shares of TRX Gold by 50.4% in the 3rd 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 last quarter. Evergreen Capital Management LLC acquired a new position in TRX Gold during the 2nd quarter valued at approximately $136,000. Finally, Strategic Planning Inc. bought a new position in TRX Gold during the 3rd quarter worth $205,000. 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.