TRX Gold (NYSEAMERICAN:TRX) stock breaks above the 50-day moving average of $0.00


TRX Gold Co. (NYSEAMERICAN:TRX – Get Rating) (NYSEMKT:TRX) rose above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $0.00 and is trading down to $0.39. TRX Gold shares last traded at $0.37, with a volume of 629,500 shares traded.

Separately, HC Wainwright assumed cover for TRX Gold in a Tuesday, May 24 research note. They issued a “buy” rating and a target price of $0.70 for the company.

The company has a market capitalization of $102.08 million, a P/E ratio of -18.61 and a beta of 0.83.

TRX Gold (NYSEAMERICAN:TRX – Get Rating) (NYSEMKT:TRX) last released quarterly earnings data on Thursday, April 14. The basic materials company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $3.33 million in the quarter. On average, stock analysts expect TRX Gold Co. to post EPS of -0.03 for the current fiscal year.

Hedge funds and other institutional investors have recently increased or reduced their stakes in the company. Guild Investment Management Inc. increased its holdings in TRX Gold by 14.3% during the 4th quarter. Guild Investment Management Inc. now owns 400,000 shares of the basic materials company valued at $158,000 after acquiring an additional 50,000 shares during the period. Renaissance Technologies LLC increased its position in TRX Gold by 325.1% during the 1st quarter. Renaissance Technologies LLC now owns 611,000 shares of the basic materials company valued at $189,000 after purchasing an additional 467,274 shares last quarter. Finally, Virtu Financial LLC purchased a new stake in TRX Gold during Q1 for $45,000. Institutional investors and hedge funds own 0.97% of the company’s shares.

About TRX Gold (NYSEAMERICAN:TRX)

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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