TRX Gold (NYSEAMERICAN:TRX) Earns Buy Rating from HC Wainwright

TRX Gold (NYSEAMERICAN:TRX)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $2.30 target price on the stock. HC Wainwright’s target price suggests a potential upside of 144.42% from the company’s previous close.

Separately, Roth Mkm set a $2.25 price target on shares of TRX Gold and gave the company a “buy” rating in a report on Monday, February 9th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, TRX Gold presently has an average rating of “Buy” and an average price target of $2.28.

TRX Gold Trading Down 2.0%

TRX stock traded down $0.02 during trading on Monday, reaching $0.94. The company had a trading volume of 1,157,676 shares, compared to its average volume of 5,662,286. The business has a 50 day moving average of $1.27 and a 200 day moving average of $1.25. TRX Gold has a 52 week low of $0.32 and a 52 week high of $2.80. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.37 and a quick ratio of 1.52. The company has a market cap of $308.15 million, a P/E ratio of -13.48 and a beta of 0.25.

Hedge Funds Weigh In On TRX Gold

Several hedge funds and other institutional investors have recently modified their holdings of TRX. Cetera Investment Advisers increased its position in shares of TRX Gold by 54.4% during the fourth quarter. Cetera Investment Advisers now owns 28,373 shares of the company’s stock valued at $26,000 after acquiring an additional 10,000 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of TRX Gold during the 1st quarter worth approximately $25,000. Sprott Inc. lifted its position in shares of TRX Gold by 34.9% during the 4th quarter. Sprott Inc. now owns 95,721 shares of the company’s stock worth $88,000 after buying an additional 24,746 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of TRX Gold by 6.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 482,536 shares of the company’s stock worth $301,000 after buying an additional 27,966 shares during the last quarter. Finally, MAI Capital Management purchased a new stake in shares of TRX Gold during the 3rd quarter worth approximately $30,000. 1.06% of the stock is owned by hedge funds and other institutional investors.

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.