HC Wainwright Forecasts Strong Price Appreciation for TRX Gold (NYSEAMERICAN:TRX) Stock

TRX Gold (NYSEAMERICAN:TRX) had its target price raised by investment analysts at HC Wainwright from $1.50 to $2.30 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s target price points to a potential upside of 22.02% from the stock’s previous close.

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

TRX Gold Stock Up 4.1%

TRX Gold stock traded up $0.08 during midday trading on Monday, hitting $1.89. 3,162,206 shares of the company’s stock were exchanged, compared to its average volume of 8,593,728. TRX Gold has a 12 month low of $0.27 and a 12 month high of $2.80. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.56 and a current ratio of 1.09. The company has a market cap of $594.38 million, a PE ratio of -189.40 and a beta of 0.32. The firm has a 50-day moving average of $1.34 and a two-hundred day moving average of $0.87.

TRX Gold (NYSEAMERICAN:TRX) last announced its earnings results 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, analysts expect that TRX Gold will post 0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TRX Gold

Several hedge funds have recently made changes to their positions in the company. Cetera Investment Advisers boosted its stake in shares of TRX Gold by 54.4% in the fourth quarter. Cetera Investment Advisers now owns 28,373 shares of the company’s stock worth $26,000 after buying an additional 10,000 shares during the last quarter. MAI Capital Management acquired a new position in shares of TRX Gold during the 3rd quarter worth approximately $30,000. Jane Street Group LLC grew its stake in 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 acquiring an additional 66,437 shares during the period. SPWM Advisors LLC purchased a new stake in TRX Gold in the 4th quarter worth $51,000. Finally, Virginia Wealth Management Group Inc. purchased a new position in TRX Gold during the third quarter valued at $62,000. 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. The company was formerly known as Tanzanian Gold Corporation and changed its name to TRX Gold Corporation in May 2022.