TRX Gold (NYSEAMERICAN:TRX) Sets New 52-Week High – Time to Buy?

TRX Gold Co. (NYSEAMERICAN:TRX)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $1.79 and last traded at $1.7650, with a volume of 8933321 shares traded. The stock had previously closed at $1.52.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TRX shares. Roth Mkm reiterated a “buy” rating and issued a $1.25 price objective on shares of TRX Gold in a research note on Friday, December 12th. HC Wainwright lifted their target price on TRX Gold from $1.40 to $1.50 and gave the company a “buy” rating in a report on Friday, January 16th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, TRX Gold presently has a consensus rating of “Buy” and an average target price of $1.38.

TRX Gold Trading Up 22.0%

The firm has a fifty day simple moving average of $0.89 and a two-hundred day simple moving average of $0.65. 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 current ratio of 1.09, a quick ratio of 0.56 and a debt-to-equity ratio of 0.04.

TRX Gold (NYSEAMERICAN:TRX) last posted its quarterly earnings data 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, equities analysts expect that TRX Gold Co. will post 0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. MAI Capital Management bought a new stake in TRX Gold during the third quarter worth about $30,000. Jane Street Group LLC lifted its position 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 last quarter. Virginia Wealth Management Group Inc. purchased a new stake in TRX Gold in the third quarter worth approximately $62,000. Evergreen Capital Management LLC bought a new position in TRX Gold during the second quarter valued at approximately $136,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of TRX Gold by 7.4% in 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 last quarter. Institutional investors 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.