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

TRX Gold Co. (NYSEAMERICAN:TRX)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $1.73, but opened at $1.61. TRX Gold shares last traded at $1.6650, with a volume of 2,287,198 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TRX shares. Roth Mkm set a $2.25 target price on TRX Gold and gave the stock a “buy” rating in a research report on Monday, February 9th. HC Wainwright raised their price objective on TRX Gold from $1.40 to $1.50 and gave the stock a “buy” rating in a report on Friday, January 16th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $1.88.

TRX Gold Stock Performance

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 firm has a market cap of $554.96 million, a price-to-earnings ratio of 57.33 and a beta of 0.33. The firm’s 50 day moving average price is $1.22 and its 200-day moving average price is $0.80.

TRX Gold (NYSEAMERICAN:TRX) last issued its earnings results on Thursday, January 15th. The company reported ($0.01) earnings per share (EPS) for the quarter. TRX Gold had a positive return on equity of 10.43% and a negative net margin of 6.36%. On average, analysts anticipate that TRX Gold Co. will post 0.04 earnings per share for the current year.

Hedge Funds Weigh In On TRX Gold

A number of large investors have recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. grew its position in TRX Gold by 144.1% during the 4th quarter. Hillsdale Investment Management Inc. now owns 1,817,781 shares of the company’s stock worth $1,685,000 after acquiring an additional 1,073,200 shares during the last quarter. Marshall Wace LLP acquired a new stake in TRX Gold in the fourth quarter worth $1,658,000. Jane Street Group LLC increased its stake in TRX Gold by 4,455.7% in the fourth quarter. Jane Street Group LLC now owns 729,779 shares of the company’s stock valued at $672,000 after purchasing an additional 713,760 shares in the last quarter. BNP Paribas Financial Markets grew its stake 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 valued at $301,000 after buying an additional 27,966 shares during the period. Finally, Citadel Advisors LLC raised its stake in TRX Gold by 50.4% during the 3rd quarter. Citadel Advisors LLC now owns 442,851 shares of the company’s stock worth $276,000 after buying an additional 148,330 shares during the period. Institutional investors own 1.06% of the company’s stock.

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.