TRX Gold (NYSEAMERICAN:TRX) Trading Up 6.4% – Still a Buy?

Shares of TRX Gold Co. (NYSEAMERICAN:TRX) were up 6.4% on Monday . The company traded as high as $1.89 and last traded at $1.9050. Approximately 2,423,855 shares changed hands during trading, a decline of 73% from the average daily volume of 9,029,577 shares. The stock had previously closed at $1.79.

Analyst Upgrades and Downgrades

Several research firms have commented on TRX. Roth Mkm set a $2.25 price target on TRX Gold and gave the company a “buy” rating in a report on Monday, February 9th. HC Wainwright upped their target price on TRX Gold from $1.40 to $1.50 and gave the company a “buy” rating in a research note on Friday, January 16th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, TRX Gold presently has an average rating of “Buy” and a consensus target price of $1.88.

TRX Gold Stock Down 3.7%

The company has a quick ratio of 0.56, a current ratio of 1.09 and a debt-to-equity ratio of 0.04. The business has a 50-day simple moving average of $1.30 and a two-hundred day simple moving average of $0.85. The stock has a market capitalization of $573.88 million, a P/E ratio of 63.00 and a beta of 0.33.

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

Institutional Trading of TRX Gold

Several hedge funds have recently modified their holdings of TRX. Hillsdale Investment Management Inc. acquired a new position in TRX Gold during the 3rd quarter worth $471,000. PFG Private Wealth Management LLC acquired a new position in shares of TRX Gold during the third quarter valued at $182,000. Strategic Planning Inc. bought a new position in TRX Gold in the third quarter valued at about $205,000. Virginia Wealth Management Group Inc. bought a new position in TRX Gold in the third quarter valued at about $62,000. Finally, SPWM Advisors LLC acquired a new stake in TRX Gold in the fourth quarter worth about $51,000. Institutional investors and hedge funds own 1.06% of the company’s stock.

TRX Gold Company Profile

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.