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

TRX Gold (NYSEAMERICAN:TRX) had its target price upped by HC Wainwright from $1.50 to $2.30 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 22.02% from the company’s current price.

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

TRX Gold Price Performance

TRX traded up $0.08 during trading on Monday, reaching $1.89. The stock had a trading volume of 3,162,206 shares, compared to its average volume of 8,593,728. The business has a 50-day moving average of $1.34 and a 200-day moving average of $0.87. TRX Gold has a one year low of $0.27 and a one year 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 stock has a market cap of $594.38 million, a PE ratio of -189.40 and a beta of 0.32.

TRX Gold (NYSEAMERICAN:TRX) last posted its quarterly earnings data on Thursday, January 15th. The company reported ($0.01) earnings per share (EPS) 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, equities research analysts anticipate that TRX Gold will post 0.04 EPS for the current fiscal year.

Institutional Trading of TRX Gold

Institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC boosted its holdings in TRX Gold by 157.7% in the 2nd quarter. Jane Street Group LLC now owns 108,573 shares of the company’s stock worth $36,000 after buying an additional 66,437 shares during the period. BNP Paribas Financial Markets raised its stake in TRX Gold by 7.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 454,570 shares of the company’s stock valued at $152,000 after purchasing an additional 31,203 shares during the period. Evergreen Capital Management LLC purchased a new position in TRX Gold in the 2nd quarter worth approximately $136,000. Virginia Wealth Management Group Inc. bought a new position in shares of TRX Gold during the 3rd quarter valued at approximately $62,000. Finally, Strategic Planning Inc. bought a new stake in TRX Gold in the third quarter worth about $205,000. Institutional investors own 1.06% of the company’s stock.

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.