TRX Gold (NYSEAMERICAN:TRX) Sets New 52-Week High – Here’s Why

Shares of TRX Gold Co. (NYSEAMERICAN:TRX) hit 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.

Wall Street Analysts Forecast Growth

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

TRX Gold Trading Down 25.2%

The company’s fifty day simple moving average is $0.95 and its 200-day simple moving average is $0.67. The firm has a market capitalization of $469.70 million, a PE ratio of -163.00 and a beta of 0.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.09 and a quick ratio of 0.56.

TRX Gold (NYSEAMERICAN:TRX) last issued its quarterly earnings results on Thursday, January 15th. The company reported ($0.01) earnings per share 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, sell-side analysts expect that TRX Gold Co. will post 0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. MAI Capital Management purchased a new position in TRX Gold in the 3rd quarter valued at $30,000. Virginia Wealth Management Group Inc. purchased a new position in shares of TRX Gold in the third quarter worth about $62,000. Jane Street Group LLC boosted its position in TRX Gold by 157.7% during the second quarter. Jane Street Group LLC now owns 108,573 shares of the company’s stock worth $36,000 after acquiring an additional 66,437 shares during the last quarter. PFG Private Wealth Management LLC purchased a new stake in TRX Gold during the 3rd quarter valued at about $182,000. Finally, Strategic Planning Inc. purchased a new position in TRX Gold in the 3rd quarter worth approximately $205,000. 1.06% of the stock is 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.