TRX Gold (NYSEAMERICAN:TRX) Stock Passes Above Fifty Day Moving Average of $0.00

TRX Gold Co. (NYSEAMERICAN:TRXGet Rating) (NYSEMKT:TRX)’s stock price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $0.00 and traded as high as $0.49. TRX Gold shares last traded at $0.48, with a volume of 332,586 shares traded.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright increased their price target on TRX Gold from $0.70 to $1.00 and gave the stock a “buy” rating in a research note on Thursday, September 1st.

TRX Gold Price Performance

The firm has a market cap of $133.37 million, a P/E ratio of -24.15 and a beta of 0.83.

TRX Gold (NYSEAMERICAN:TRXGet Rating) (NYSEMKT:TRX) last announced its quarterly earnings data on Thursday, July 14th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $5.73 million during the quarter, compared to analysts’ expectations of $4.00 million. Sell-side analysts predict that TRX Gold Co. will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On TRX Gold

Several hedge funds have recently bought and sold shares of TRX. Financial Sense Advisors Inc. acquired a new position in TRX Gold in the 2nd quarter worth about $43,000. Virtu Financial LLC acquired a new position in TRX Gold in the 1st quarter worth about $45,000. Guild Investment Management Inc. increased its position in TRX Gold by 9.6% in the 2nd quarter. Guild Investment Management Inc. now owns 458,000 shares of the basic materials company’s stock worth $188,000 after purchasing an additional 40,000 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in TRX Gold by 325.1% in the 1st quarter. Renaissance Technologies LLC now owns 611,000 shares of the basic materials company’s stock worth $189,000 after purchasing an additional 467,274 shares during the last quarter. 0.97% of the stock is owned by hedge funds and other institutional investors.

About TRX Gold

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TRX Gold Corporation engages in the acquisition, financing, exploration, and development 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 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.

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