TRX Gold (NYSEAMERICAN:TRX) Reaches New 1-Year High – What’s Next?

TRX Gold Co. (NYSEAMERICAN:TRX) reached a new 52-week high during trading on Wednesday . The stock traded as high as $1.79 and last traded at $1.7650, with a volume of 8933321 shares changing hands. The stock had previously closed at $1.52.

Analysts Set New Price Targets

Several analysts recently issued reports on TRX shares. Roth Mkm reissued a “buy” rating and issued a $1.25 price target on shares of TRX Gold in a research report on Friday, December 12th. HC Wainwright upped their target price on shares of TRX Gold from $1.40 to $1.50 and gave the stock a “buy” rating in a report on Friday, January 16th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $1.38.

TRX Gold Price Performance

The stock has a market cap of $534.54 million, a PE ratio of -185.50 and a beta of 0.29. 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 50 day moving average price of $0.89 and a two-hundred day moving average price of $0.65.

TRX Gold (NYSEAMERICAN:TRX) last issued its quarterly earnings results on Thursday, January 15th. The company reported ($0.01) EPS for the quarter. TRX Gold had a positive return on equity of 10.43% and a negative net margin of 6.36%. Research analysts expect 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 added to or reduced their stakes in the stock. MAI Capital Management purchased a new position in TRX Gold in the third quarter valued at about $30,000. Jane Street Group LLC lifted its stake in TRX Gold by 157.7% in the second quarter. Jane Street Group LLC now owns 108,573 shares of the company’s stock valued at $36,000 after purchasing an additional 66,437 shares during the last quarter. Virginia Wealth Management Group Inc. bought a new position in TRX Gold during the third quarter valued at $62,000. Evergreen Capital Management LLC bought a new position in TRX Gold during the second quarter valued at $136,000. Finally, BNP Paribas Financial Markets grew its stake in shares of TRX Gold by 7.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 454,570 shares of the company’s stock worth $152,000 after acquiring an additional 31,203 shares during the period. 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.