TRX Gold Co. (NYSEAMERICAN:TRX) Short Interest Down 20.0% in July

TRX Gold Co. (NYSEAMERICAN:TRX – Get Rating) (NYSEMKT:TRX) saw a sharp drop in short-term interest during the month of July. As of July 31, there was short interest totaling 181,700 shares, down 20.0% from the July 15 total of 227,100 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily trading volume of 631,600 shares, the short-term interest rate ratio is currently 0.3 days.

Institutional investors weigh in on TRX Gold

Several hedge funds have recently bought and sold shares of the company. Guild Investment Management Inc. increased its holdings in TRX Gold by 9.6% in Q2. Guild Investment Management Inc. now owns 458,000 shares of the basic materials company valued at $188,000 after acquiring an additional 40,000 shares during the period. Financial Sense Advisors Inc. bought a new position in TRX Gold in Q2 worth around $43,000. Virtu Financial LLC bought a new position in TRX Gold in Q1 worth around $45,000. Finally, Renaissance Technologies LLC increased its stake in TRX Gold by 325.1% in the 1st quarter. Renaissance Technologies LLC now owns 611,000 shares of the basic materials company valued at $189,000 after acquiring an additional 467,274 shares during the period. 0.97% of the shares are currently held by institutional investors and hedge funds.

TRX Gold Price Performance

Shares of NYSEAMERICAN:TRX opened at $0.49 on Friday. TRX Gold has a 52-week low of $0.26 and a 52-week high of $0.53. The stock has a market capitalization of $136.46 million, a P/E ratio of -24.72 and a beta of 0.83.

Analyst upgrades and downgrades

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

TRX Gold Company Profile

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TRX Gold Corporation is engaged in the acquisition, financing, exploration and development of 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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