TRX Gold (NYSEAMERICAN:TRX) Stock Price Down 5.8% – Here’s What Happened

TRX Gold Co. (NYSEAMERICAN:TRX)’s share price traded down 5.8% during trading on Friday . The company traded as low as $1.11 and last traded at $1.13. 3,226,044 shares changed hands during mid-day trading, a decline of 13% from the average session volume of 3,727,117 shares. The stock had previously closed at $1.20.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. HC Wainwright reaffirmed a “buy” rating and issued a $2.30 price objective on shares of TRX Gold in a research note on Thursday, April 16th. Roth Mkm set a $2.25 price objective on TRX Gold and gave the stock a “buy” rating in a research note on Monday, February 9th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, TRX Gold has an average rating of “Buy” and a consensus price target of $2.28.

TRX Gold Stock Performance

The company has a quick ratio of 1.52, a current ratio of 2.37 and a debt-to-equity ratio of 0.03. The company has a 50 day simple moving average of $1.41 and a 200-day simple moving average of $1.20. The stock has a market capitalization of $368.30 million, a price-to-earnings ratio of -16.14 and a beta of 0.25.

Hedge Funds Weigh In On TRX Gold

Several institutional investors have recently added to or reduced their stakes in TRX. Hsbc Holdings PLC acquired a new position in TRX Gold in the first quarter valued at approximately $25,000. Cetera Investment Advisers lifted its stake in TRX Gold by 54.4% in the fourth quarter. Cetera Investment Advisers now owns 28,373 shares of the company’s stock valued at $26,000 after buying an additional 10,000 shares during the period. MAI Capital Management acquired a new position in TRX Gold in the third quarter valued at approximately $30,000. Jane Street Group LLC lifted its stake in TRX Gold by 157.7% in the second quarter. Jane Street Group LLC now owns 108,573 shares of the company’s stock valued at $36,000 after buying an additional 66,437 shares during the period. Finally, SPWM Advisors LLC acquired a new position in TRX Gold in the fourth quarter valued at approximately $51,000. 1.06% of the stock is owned by institutional investors and hedge funds.

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.