TRX Gold (NYSEAMERICAN:TRX) Stock Price Up 8.8% - Still a Buy?

Key Points

• TRX Gold jumped 8.8% intraday to $1.795 on Monday (high $1.79) with about 6.23 million shares traded versus an average session volume of ~8.44 million, after a prior close of $1.65.
• Analysts including HC Wainwright and Roth MKM have issued Buy ratings (targets $2.30 and $2.25 respectively), leaving a consensus price target of about $2.28.
• TRX Gold has a market cap of $566 million and a negative P/E (-178.5); it reported Q4 EPS of ($0.01) but analysts expect ~0.04 EPS for the year, and the company explores and develops the Buckreef gold project in Tanzania with only ~1.06% institutional ownership.

TRX Gold Co. (NYSEAMERICAN:TRX - Get Free Report)'s stock price shot up 8.8% during mid-day trading on Monday . The company traded as high as $1.79 and last traded at $1.7950. 6,234,432 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 8,443,882 shares. The stock had previously closed at $1.65.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TRX. HC Wainwright raised their price objective on shares of TRX Gold from $1.50 to $2.30 and gave the stock a "buy" rating in a research note on Monday, March 2nd. Roth Mkm set a $2.25 price target on shares of TRX Gold and gave the stock a "buy" rating in a report on Monday, February 9th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $2.28.

TRX Gold Stock Up 8.8%

The company has a market cap of $566.00 million, a price-to-earnings ratio of -178.50 and a beta of 0.32. The business has a fifty day moving average of $1.42 and a two-hundred day moving average of $0.92. The company has a current ratio of 1.09, a quick ratio of 0.56 and a debt-to-equity ratio of 0.04.

TRX Gold (NYSEAMERICAN:TRX - Get Free Report) last issued its quarterly earnings data 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%. As a group, equities analysts anticipate that TRX Gold Co. will post 0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On TRX Gold

Large investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers grew its position 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 valued at $26,000 after purchasing an additional 10,000 shares during the period. MAI Capital Management acquired a new position in shares of TRX Gold during the 3rd quarter worth about $30,000. Jane Street Group LLC lifted 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 buying an additional 66,437 shares in the last quarter. SPWM Advisors LLC acquired a new stake in TRX Gold in the 4th quarter worth about $51,000. Finally, Virginia Wealth Management Group Inc. acquired a new stake in TRX Gold in the 3rd quarter worth about $62,000. 1.06% of the stock is currently owned by institutional investors and hedge funds.

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.

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