TRX Gold (NYSEAMERICAN:TRX) Shares Gap Up Following Analyst Upgrade

TRX Gold Co. (NYSEAMERICAN:TRX) gapped up before the market opened on Monday after HC Wainwright raised their price target on the stock from $1.50 to $2.30. The stock had previously closed at $1.81, but opened at $1.92. HC Wainwright currently has a buy rating on the stock. TRX Gold shares last traded at $1.8850, with a volume of 3,162,206 shares.

Separately, Roth Mkm set a $2.25 price target on shares of TRX Gold and gave the stock a “buy” rating in a report on Monday, February 9th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, TRX Gold currently has a consensus rating of “Buy” and a consensus price target of $2.28.

Institutional Investors Weigh In On TRX Gold

Several hedge funds have recently added to or reduced their stakes in TRX. Marshall Wace LLP purchased a new position in shares of TRX Gold in the 4th quarter worth about $1,658,000. Hillsdale Investment Management Inc. lifted its position in TRX Gold by 144.1% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,817,781 shares of the company’s stock worth $1,685,000 after buying an additional 1,073,200 shares during the last quarter. Jane Street Group LLC boosted its stake in TRX Gold by 4,455.7% in the fourth quarter. Jane Street Group LLC now owns 729,779 shares of the company’s stock worth $672,000 after buying an additional 713,760 shares in the last quarter. Evergreen Capital Management LLC purchased a new stake in TRX Gold in the second quarter worth approximately $136,000. Finally, Strategic Planning Inc. bought a new position in TRX Gold during the third quarter valued at approximately $205,000. Institutional investors own 1.06% of the company’s stock.

TRX Gold Price Performance

The stock has a market capitalization of $551.81 million, a PE ratio of -175.00 and a beta of 0.33. The firm’s 50 day simple moving average is $1.37 and its 200 day simple moving average is $0.89. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.09 and a quick ratio of 0.56.

TRX Gold (NYSEAMERICAN:TRX) last announced its quarterly earnings data on Thursday, January 15th. The company reported ($0.01) earnings per share (EPS) for the quarter. TRX Gold had a negative net margin of 6.36% and a positive return on equity of 10.43%. As a group, equities analysts forecast that TRX Gold Co. will post 0.04 EPS for the current fiscal year.

About TRX Gold

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.