Equities Analysts Offer Predictions for TRX Gold Co.’s FY2024 Earnings (NYSE:TRX)

TRX Gold Co. (NYSE:TRX) – Investment analysts at Roth Capital boosted their FY2024 earnings per share estimates for shares of TRX Gold in a report released on Wednesday, April 17th. Roth Capital analyst M. Niehuser now expects that the company will post earnings per share of $0.03 for the year, up from their prior estimate of $0.02. The consensus estimate for TRX Gold’s current full-year earnings is $0.03 per share.

TRX Gold (NYSE:TRX) last posted its earnings results on Friday, April 12th. The company reported $0.01 EPS for the quarter. The business had revenue of $7.98 million during the quarter, compared to analyst estimates of $9.40 million. TRX Gold had a negative return on equity of 1.66% and a net margin of 0.70%.

Other equities analysts also recently issued reports about the company. HC Wainwright boosted their price objective on TRX Gold from $1.30 to $1.40 and gave the company a “buy” rating in a research report on Tuesday. Alliance Global Partners boosted their target price on TRX Gold from $1.50 to $1.75 and gave the stock a “buy” rating in a research report on Tuesday. Finally, StockNews.com assumed coverage on TRX Gold in a research report on Wednesday. They issued a “hold” rating on the stock.

TRX Gold Stock Up 3.3 %

Shares of TRX Gold stock opened at $0.46 on Friday. The stock’s 50-day simple moving average is $0.38 and its 200-day simple moving average is $0.38. TRX Gold has a 52 week low of $0.31 and a 52 week high of $0.60. The company has a market capitalization of $128.61 million, a price-to-earnings ratio of 46.16 and a beta of 0.65.

Institutional Investors Weigh In On TRX Gold

A number of hedge funds have recently made changes to their positions in TRX. Virtu Financial LLC increased its stake in TRX Gold by 211.1% during the fourth quarter. Virtu Financial LLC now owns 109,558 shares of the company’s stock worth $37,000 after acquiring an additional 74,338 shares during the last quarter. Bedel Financial Consulting Inc. bought a new stake in TRX Gold during the second quarter worth approximately $44,000. Morgan Stanley grew its stake in shares of TRX Gold by 19.7% during the fourth quarter. Morgan Stanley now owns 179,454 shares of the company’s stock valued at $61,000 after buying an additional 29,575 shares during the last quarter. Millennium Management LLC grew its stake in shares of TRX Gold by 493.1% during the fourth quarter. Millennium Management LLC now owns 254,416 shares of the company’s stock valued at $86,000 after buying an additional 211,523 shares during the last quarter. Finally, HighTower Advisors LLC grew its stake in shares of TRX Gold by 12.8% during the fourth quarter. HighTower Advisors LLC now owns 297,190 shares of the company’s stock valued at $99,000 after buying an additional 33,690 shares during the last quarter. 1.06% of the stock is currently owned by hedge funds and other institutional investors.

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.