TRX Gold (NYSEAMERICAN:TRX) Shares Gap Up – Still a Buy?

Shares of TRX Gold Co. (NYSEAMERICAN:TRX) gapped up before the market opened on Thursday . The stock had previously closed at $1.93, but opened at $2.40. TRX Gold shares last traded at $2.1050, with a volume of 41,257,299 shares changing hands.

Analyst Ratings Changes

A number of research firms recently commented on TRX. Roth Mkm reissued a “buy” rating and set a $1.25 target price on shares of TRX Gold in a research report on Friday, December 12th. HC Wainwright increased their price objective on TRX Gold from $1.40 to $1.50 and gave the company a “buy” rating in a report on Friday, January 16th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $1.38.

TRX Gold Stock Performance

The stock’s 50-day moving average price is $0.92 and its 200-day moving average price is $0.65. The company has a market capitalization of $577.76 million, a price-to-earnings ratio of -200.50 and a beta of 0.29. 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 released its quarterly earnings data on Thursday, January 15th. The company reported ($0.01) earnings per share for the quarter. TRX Gold had a negative net margin of 6.36% and a positive return on equity of 10.43%. As a group, equities research analysts expect that TRX Gold Co. will post 0.04 earnings per share for the current year.

Institutional Investors Weigh In On TRX Gold

Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its stake in 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 acquiring an additional 27,966 shares during the last quarter. MAI Capital Management acquired a new stake in shares of TRX Gold in the third quarter valued at approximately $30,000. Jane Street Group LLC increased its stake in shares of TRX Gold by 157.7% during the 2nd quarter. Jane Street Group LLC now owns 108,573 shares of the company’s stock worth $36,000 after purchasing an additional 66,437 shares in the last quarter. Virginia Wealth Management Group Inc. acquired a new position in shares of TRX Gold during the 3rd quarter worth approximately $62,000. Finally, Citadel Advisors LLC raised its position 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 purchasing an additional 148,330 shares during the last quarter. 1.06% of the stock is currently owned by hedge funds and other institutional investors.

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.