TRX Gold (NYSE:TRX) Trading 0.6% Higher - Here's Why

TRX Gold Co. (NYSE:TRX - Get Free Report) shares rose 0.6% during mid-day trading on Wednesday . The stock traded as high as $0.9650 and last traded at $0.9590. Approximately 916,836 shares traded hands during mid-day trading, a decline of 9% from the average daily volume of 1,006,607 shares. The stock had previously closed at $0.9532.Wall Street Analyst Weigh InSeveral research analysts have weighed in on TRX shares. HC Wainwright raised their price objective on shares of TRX Gold from $1.20 to $1.40 and gave the stock a "buy" rating in a report on Tuesday, December 2nd. Roth Capital reaffirmed a "buy" rating and set a $1.25 price target on shares of TRX Gold in a research report on Friday, December 12th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, TRX Gold currently has a consensus rating of "Buy" and a consensus price target of $1.33.View Our Latest Stock Report on TRXTRX Gold Trading Up 0.6%The firm has a market cap of $274.14 million, a P/E ratio of -34.20 and a beta of 0.32. The business's 50-day moving average is $0.73 and its two-hundred day moving average is $0.53. The company has a current ratio of 0.83, a quick ratio of 0.51 and a debt-to-equity ratio of 0.03. Institutional Inflows and OutflowsA number of institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC boosted its holdings in shares of TRX Gold by 157.7% during the second quarter. Jane Street Group LLC now owns 108,573 shares of the company's stock valued at $36,000 after acquiring an additional 66,437 shares during the period. BNP Paribas Financial Markets lifted its position in TRX Gold by 7.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 454,570 shares of the company's stock valued at $152,000 after purchasing an additional 31,203 shares during the last quarter. Evergreen Capital Management LLC acquired a new position in TRX Gold during the 2nd quarter valued at about $136,000. Virginia Wealth Management Group Inc. acquired a new position in TRX Gold during the 3rd quarter valued at about $62,000. Finally, Strategic Planning Inc. bought a new position in TRX Gold in the 3rd quarter worth about $205,000. 1.06% of the stock is currently owned by institutional investors. TRX Gold Company Profile (Get Free Report)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.Further ReadingFive stocks we like better than TRX GoldDo not delete, read immediatelyINVESTOR ALERT: Tiny “$3 AI Wonder Stock” on the Verge of Blasting OffCan Any Expenses Be Deducted From Capital Gains Tax?Buffett, Gates and Bezos Quietly Dumping Stocks—Here's WhyForget AI, This Will Be the Next Big Tech BreakthroughThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in TRX Gold Right Now?Before you consider TRX Gold, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TRX Gold wasn't on the list.While TRX Gold currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here