TRX Gold (NYSEAMERICAN:TRX) Shares Up 8.8% – Time to Buy?

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TRX. Roth Mkm set a $2.25 price target on TRX Gold and gave the stock a “buy” rating in a research report on Monday, February 9th. HC Wainwright lifted their price target on TRX Gold from $1.50 to $2.30 and gave the stock a “buy” rating in a report on Monday, March 2nd. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $2.28.

TRX Gold Stock Up 8.8%

The firm has a 50-day moving average of $1.42 and a two-hundred day moving average of $0.92. The company has a quick ratio of 0.56, a current ratio of 1.09 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $566.00 million, a PE ratio of -178.50 and a beta of 0.32.

TRX Gold (NYSEAMERICAN:TRX) last issued its quarterly earnings results 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%. Equities research analysts predict that TRX Gold Co. will post 0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TRX Gold

Several institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC boosted its holdings 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 in the last quarter. BNP Paribas Financial Markets raised its holdings in TRX Gold by 7.4% during the second quarter. BNP Paribas Financial Markets now owns 454,570 shares of the company’s stock worth $152,000 after purchasing an additional 31,203 shares in the last quarter. Evergreen Capital Management LLC purchased a new stake in shares of TRX Gold during the 2nd quarter worth approximately $136,000. Virginia Wealth Management Group Inc. purchased a new stake in shares of TRX Gold during the 3rd quarter worth approximately $62,000. Finally, Strategic Planning Inc. acquired a new position in shares of TRX Gold in the 3rd quarter valued at $205,000. Hedge funds and other 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.