HC Wainwright Increases TRX Gold (NYSE:TRX) Price Target to $1.40

TRX Gold (NYSE:TRX) had its price target lifted by investment analysts at HC Wainwright from $1.20 to $1.40 in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 93.02% from the stock’s current price.

TRX Gold Price Performance

Shares of NYSE:TRX opened at $0.73 on Tuesday. The company has a quick ratio of 0.51, a current ratio of 0.83 and a debt-to-equity ratio of 0.03. TRX Gold has a 12-month low of $0.27 and a 12-month high of $0.85. The company’s fifty day moving average is $0.67 and its two-hundred day moving average is $0.48. The company has a market cap of $207.33 million, a P/E ratio of -34.20 and a beta of 0.32.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. MAI Capital Management purchased a new stake in shares of TRX Gold during the 3rd quarter worth about $30,000. Virginia Wealth Management Group Inc. bought a new position in shares of TRX Gold during the 3rd quarter valued at $62,000. Jane Street Group LLC lifted its stake in shares of TRX Gold by 157.7% in the 2nd quarter. Jane Street Group LLC now owns 108,573 shares of the company’s stock valued at $36,000 after purchasing an additional 66,437 shares during the last quarter. PFG Private Wealth Management LLC acquired a new stake in shares of TRX Gold in the 3rd quarter valued at $182,000. Finally, Strategic Planning Inc. bought a new stake in TRX Gold in the third quarter worth $205,000. 1.06% of the stock is owned by institutional investors and hedge funds.

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.