TRX Gold (NYSEAMERICAN:TRX) Trading Up 2.3% – Time to Buy?

TRX Gold Co. (NYSEAMERICAN:TRX)’s share price rose 2.3% during trading on Monday . The company traded as high as $1.34 and last traded at $1.32. 3,824,024 shares traded hands during mid-day trading, an increase of 5% from the average session volume of 3,625,315 shares. The stock had previously closed at $1.29.

Analysts Set New Price Targets

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

TRX Gold Price Performance

The company has a current ratio of 2.20, a quick ratio of 1.45 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $436.68 million, a PE ratio of -22.16 and a beta of 0.40. The stock’s 50-day moving average is $1.04 and its two-hundred day moving average is $1.14.

Institutional Trading of TRX Gold

Several institutional investors and hedge funds have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership boosted its position in TRX Gold by 128.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,713,800 shares of the company’s stock valued at $4,039,000 after buying an additional 1,524,403 shares during the period. Renaissance Technologies LLC purchased a new position in shares of TRX Gold during the first quarter worth approximately $1,227,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of TRX Gold during the second quarter worth approximately $2,813,000. Hillsdale Investment Management Inc. raised its stake in shares of TRX Gold by 144.1% during the fourth quarter. Hillsdale Investment Management Inc. now owns 1,817,781 shares of the company’s stock valued at $1,685,000 after acquiring an additional 1,073,200 shares in the last quarter. Finally, Navellier & Associates Inc. boosted its holdings in shares of TRX Gold by 4.7% in the second quarter. Navellier & Associates Inc. now owns 379,726 shares of the company’s stock valued at $313,000 after purchasing an additional 16,997 shares during the period. 1.06% of the stock is currently owned by institutional investors.

About TRX Gold

TRX Gold Corporation is a gold exploration, development and production company focused on Tanzania. The company’s principal asset is the Buckreef Gold Project, located in the Geita Region of north-central Tanzania, an area known for its established gold-mining industry.

Buckreef includes several deposits and exploration targets, with operations centered on open-pit mining and processing ore to produce gold. TRX Gold has been expanding and optimizing the project’s processing capacity while conducting exploration intended to define additional mineral resources and support the potential growth of production.

The Buckreef project is operated through a joint venture involving TRX Gold and Tanzania’s State Mining Corporation.