Short-term stake in TRX Gold Co. (NYSEAMERICAN:TRX) drops 72.1%

TRX Gold Co. (NYSEAMERICAN:TRX – Get Rating) (NYSEMKT:TRX) benefited from a sharp decline in short-term interest in May. As of May 31, there was short interest totaling 254,900 shares, down 72.1% from the May 15 total of 913,900 shares. Based on an average daily volume of 1,800,000 shares, the short interest rate is currently 0.1 day. Approximately 0.1% of the company’s shares are sold short.

Separately, HC Wainwright launched coverage on TRX Gold stocks in a research report on Tuesday, May 24. They set a “buy” rating and a price target of $0.70 for the company.

A number of institutional investors have recently shifted their holdings of TRX. Guild Investment Management Inc. increased its holdings in TRX Gold by 14.3% in the fourth quarter. Guild Investment Management Inc. now owns 400,000 shares of the basic materials company worth $158,000 after buying an additional 50,000 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of TRX Gold in the fourth quarter worth approximately $57,000. Finally, Virtu Financial LLC purchased a new stake in shares of TRX Gold in the first quarter worth approximately $45,000. 0.97% of the shares are held by institutional investors and hedge funds.

NYSEAMERICAN TRX was steady at $0.37 during Friday trading hours. 704,711 shares of the company were traded, with an average volume of 1,326,394. TRX Gold has a 1-year low of $0.26 and a 1-year high of $0.60. The stock has a market capitalization of $100.74 million, a PE ratio of -18.36 and a beta of 0.83.

TRX Gold (NYSEAMERICAN:TRX – Get Rating) (NYSEMKT:TRX) last released its quarterly results on Thursday, April 14. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, meeting analyst consensus estimates of ($0.01). The company had revenue of $3.33 million for the quarter. Analysts expect TRX Gold to post -0.03 EPS for the current year.

TRX Gold Company Profile (Get a rating)

TRX Gold Corporation engages in the acquisition, financing, exploration and development of interests in mineral properties in the United Republic of Tanzania. The company mainly explores gold deposits. It holds interests in the Buckreef gold project located in north-central Tanzania. The company was previously known as Tanzanian Gold Corporation and changed its name to TRX Gold Corporation in May 2022.

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