TRX Gold (NYSEAMERICAN:TRX) Stock Price Up 11% – Time to Buy?

TRX Gold Co. (NYSEAMERICAN:TRX)’s share price was up 11% during mid-day trading on Monday . The stock traded as high as $1.70 and last traded at $1.7650. Approximately 3,119,811 shares traded hands during trading, a decline of 69% from the average daily volume of 10,041,546 shares. The stock had previously closed at $1.59.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TRX shares. Roth Mkm set a $2.25 price objective on TRX Gold and gave the company a “buy” rating in a report on Monday. HC Wainwright lifted their price objective on TRX Gold from $1.40 to $1.50 and gave the company a “buy” rating in a report on Friday, January 16th. Two 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 Price Performance

The firm has a market capitalization of $498.52 million, a price-to-earnings ratio of -173.00 and a beta of 0.33. 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 business has a fifty day moving average of $1.12 and a two-hundred day moving average of $0.75.

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

Institutional Investors Weigh In On TRX Gold

A number of institutional investors have recently modified their holdings of the company. Hillsdale Investment Management Inc. lifted its holdings in shares of TRX Gold by 144.1% during the 4th quarter. Hillsdale Investment Management Inc. now owns 1,817,781 shares of the company’s stock worth $1,685,000 after acquiring an additional 1,073,200 shares during the last quarter. Evergreen Capital Management LLC purchased a new stake in shares of TRX Gold during the second quarter worth about $136,000. Strategic Planning Inc. bought a new position in shares of TRX Gold during the third quarter valued at approximately $205,000. PFG Private Wealth Management LLC bought a new stake in TRX Gold during the 3rd quarter valued at approximately $182,000. Finally, Citadel Advisors LLC grew its position in shares of TRX Gold by 50.4% in the 3rd quarter. Citadel Advisors LLC now owns 442,851 shares of the company’s stock worth $276,000 after buying an additional 148,330 shares during the period. 1.06% of the stock is owned by institutional investors.

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.