Tanzanian Gold Corporation [AMEX: TRX] slipped around -0.07 points on Friday, while shares priced at $0.89 at the close of the session, down -7.05%. The company report on February 12, 2021 that Tanzanian Gold Corporation Announces Closing of US$21.4 Million Registered Direct Offering.
Tanzanian Gold Corporation (TSX:TNX) (NYSE American:TRX) (TanGold, TRX or the Company), announced that it has successfully closed the previously announced registered direct offering of 32,923,078 shares of its common stock at a purchase price of US$0.65 per share. The Company also issued to the investors warrants to purchase up to an aggregate of 16,461,539 shares of common stock in a concurrent private placement. The common stock warrants will be exercisable six months after the date of issuance, have an exercise price of US$0.80 per share and will expire five years from the date of issuance.
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A.G.P./Alliance Global Partners acted as sole placement agent for the offering.
Tanzanian Gold Corporation stock is now 35.43% up from its year-to-date (YTD) trading value. TRX Stock saw the intraday high of $0.95 and lowest of $0.81 per share. The company’s 52-week high price is 1.91, which means current price is +50.13% above from all time high which was touched on 01/29/21.
Compared to the average trading volume of 5.78M shares, TRX reached a trading volume of 18852340 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Tanzanian Gold Corporation [TRX]?
The Average True Range (ATR) for Tanzanian Gold Corporation is set at 0.13 The Price to Book ratio for the last quarter was 6.87, with the Price to Cash per share for the same quarter was set at 0.01.
How has TRX stock performed recently?
Tanzanian Gold Corporation [TRX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 21.39. With this latest performance, TRX shares gained by 38.30% in over the last four-week period, additionally plugging by 3.88% over the last 6 months – not to mention a rise of 75.90% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TRX stock in for the last two-week period is set at 61.43, with the RSI for the last a single of trading hit 61.98, and the three-weeks RSI is set at 60.56 for Tanzanian Gold Corporation [TRX]. The present Moving Average for the last 50 days of trading for this stock 0.6732, while it was recorded at 0.8426 for the last single week of trading, and 0.7543 for the last 200 days.
Tanzanian Gold Corporation [TRX]: Deeper insight into the fundamentals
Return on Total Capital for TRX is now -32.28, given the latest momentum, and Return on Invested Capital for the company is -58.85. Return on Equity for this stock declined to -58.85, with Return on Assets sitting at -34.75. When it comes to the capital structure of this company, Tanzanian Gold Corporation [TRX] has a Total Debt to Total Equity ratio set at 20.51. Additionally, TRX Total Debt to Total Capital is recorded at 17.02, with Total Debt to Total Assets ending up at 13.52.
Tanzanian Gold Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.40.
Insider trade positions for Tanzanian Gold Corporation [TRX]
There are presently around $1 million, or 13.90% of TRX stock, in the hands of institutional investors. The top three institutional holders of TRX stocks are: HIGHTOWER ADVISORS, LLC with ownership of 277,500, which is approximately 12.121% of the company’s market cap and around 3.40% of the total institutional ownership; BANK OF MONTREAL /CAN/, holding 277,000 shares of the stock with an approximate value of $0.25 million in TRX stocks shares; and MADDEN SECURITIES CORP, currently with $0.2 million in TRX stock with ownership of nearly 94.514% of the company’s market capitalization.
Positions in Tanzanian Gold Corporation stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 6 institutional holders increased their position in Tanzanian Gold Corporation [AMEX:TRX] by around 244,397 shares. Additionally, 14 investors decreased positions by around 405,241 shares, while 14 investors held positions by with 965,213 shares. The mentioned changes placed institutional holdings at 1,614,851 shares, according to the latest SEC report filing. TRX stock had 0 new institutional investments in for a total of 0 shares, while 7 institutional investors sold positions of 199,187 shares during the same period.