TRX Gold (NYSE:TRX) Posts Quarterly Earnings Results

TRX Gold (NYSE:TRX) posted its quarterly earnings results on Thursday. The company reported ($0.01) earnings per share for the quarter, RTT News reports. TRX Gold had a net margin of 6.11% and a return on equity of 2.21%.

TRX Gold Price Performance

Shares of TRX Gold stock opened at $1.00 on Friday. The company has a 50-day simple moving average of $0.81 and a two-hundred day simple moving average of $0.60. TRX Gold has a twelve month low of $0.27 and a twelve month high of $1.02. The stock has a market capitalization of $285.80 million, a price-to-earnings ratio of -34.20 and a beta of 0.29. The company has a quick ratio of 0.51, a current ratio of 0.83 and a debt-to-equity ratio of 0.03.

Institutional Investors Weigh In On TRX Gold

Several institutional investors have recently made changes to their positions in TRX. Citadel Advisors LLC lifted its holdings in shares of 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 acquiring an additional 148,330 shares during the period. Evergreen Capital Management LLC acquired a new position in TRX Gold during the 2nd quarter worth about $136,000. BNP Paribas Financial Markets grew its position in shares of TRX Gold by 7.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 454,570 shares of the company’s stock valued at $152,000 after buying an additional 31,203 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in shares of 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. 1.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. HC Wainwright reaffirmed a “buy” rating on shares of TRX Gold in a report on Friday. Roth Capital restated a “buy” rating and set a $1.25 price objective on shares of TRX Gold in a research report on Friday, December 12th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, TRX Gold has a consensus rating of “Buy” and an average target price of $1.33.

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.