TRX Gold

TRX · NYSE American

$0.9807+$0.0107 (+1.10%)TodayMarket closed · Oct 23, 8:00 PM ET

Prev close $0.97

TRX analyst rating

BuyConsensus of 1 analyst over the last 12 months. 100% rate it a buy.

Strong buy0
Buy1
Hold0
Underperform0
Sell0

12-month price target · 5 analysts

Average $2.41 (+145.7% upside)

Low: $2.27
Now: $0.9807
High: $2.63

Upgrades and downgrades

The latest rating actions, newest first

TRX analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
HC Wainwright & Co.	Jun 8, 2026	Maintains	Buy	$2.30	25%
HC Wainwright & Co.	Apr 16, 2026	Maintains	Buy	$2.30	25%
HC Wainwright & Co.	Mar 2, 2026	Maintains	Buy	$1.50 → $2.30	25%
HC Wainwright & Co.	Jan 16, 2026	Maintains	Buy	$1.40 → $1.50	25%
HC Wainwright & Co.	Dec 2, 2025	Maintains	Buy	$1.20 → $1.40	25%
HC Wainwright & Co.	Nov 5, 2025	Maintains	Buy	$1.10 → $1.20	25%

The case for and against

Updated Sep 30, 2026

Bull case

TRX Gold is poised for significant growth due to its 5,500 tpd expansion plan, which is expected to be completed by 2Q27, positioning the company to take advantage of the current commodity environment. Additionally, management's history of self-funded growth and on-time plant upgrades sets TRX apart from its peers. The revised precious metal price deck, with long-term estimates of $3,750/oz for gold, $50.00/oz for silver, and $5.00/lb for copper, further supports the company's growth potential and underscores the ongoing geopolitical risk factors driving investment into safe-haven assets.

Bear case

TRX Gold is performing well in terms of production, with 58% growth in FY3Q26 and on track to meet its full-year guidance. However, the business of exploring and mining for minerals involves significant risk, and the underlying value of the mineral properties is dependent on the existence and economic recovery of mineral resources and reserves. Additionally, the company's high levels of debt and need for long-term financing make it a risky investment.

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