TRX Gold Corp
TRX—
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TRX Gold Corp AI Insights
Informational only. Not investment advice.Snapshot
- Operating margin 35.6% TTM vs industry median 0% - rare profitability in gold mining sector where most peers lose money[Operating Margin TTM]
- Asset turnover 0.60x TTM vs median 0.18x - 3.3x more efficient at converting assets to revenue than peers[Asset Turnover TTM]
- Capex 13.7M TTM (20% of revenue) consuming 77% of 17.9M operating cash flow - growth phase limiting FCF[Capital Expenditure TTM]
Watch Triggers
- Capital Expenditure TTM: Falls below 10M annually — Signals transition from growth capex to harvest mode, unlocking FCF
- Net Income TTM: Turns positive — Validates operating profits flow through; current gap to pretax income unexplained
- Operating Margin TTM: Falls below 25% — Cost advantage erosion would remove key differentiator vs peers
Bull Case
Gross margin 47.5% TTM vs industry median 27% with operating margin 35.6% demonstrates low-cost producer status - sustainable cost advantage in cyclical commodity
Gross Margin TTMOperating Margin TTM
Near-zero leverage (debt/equity 0.08x) with 9.2M cash provides downside protection and M&A capacity in fragmented junior mining sector
Debt to EquityCash and Equivalents
Bear Case
Net income -4.5M TTM despite 25M operating income signals material non-operating charges - likely FX or impairments given Tanzania operations
Net Income TTMOperating Income TTM
P/S 7.3x vs median 6.9x and P/B 9.5x prices in significant growth that requires gold price cooperation and flawless execution
PS RatioPB Ratio
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
55%
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Forward Thesis
FCF inflection likely as capex intensity normalizes post-expansion
1-3ymed
- PPE at 89M suggests mine development maturing
- Operating cash flow 17.9M already strong
- Minimal debt (4.6M) preserves optionality
FCF 4.2M TTM despite 13.7M capexDebt/equity 0.08x vs typical minersCash flow 17.9M TTM
Valuation Context
Caveats
TRX Fundamentals
Mining, Quarrying, and Oil and Gas Extraction → Mining (except Oil and Gas)
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$331.0M | — | ||
$310.14M | — | ||
0.00 | — | ||
$95.17M | +109.6% | — | |
$-0.07 | — | ||
44.4% | +21.9% | — | |
-23.5% | -18.8% | — | |
$1.39M | — | ||
-31.9% | -28.1% | — | |
Beta 5Y (Monthly) | unknown | — |
TRX Dividend History
No dividends
TRX Stock Splits
No stock splits
TRX SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
04/15/26 | 02/28/26 | 6-K | |
01/14/26 | 11/30/25 | 6-K | |
12/01/25 | 08/31/25 | 40-F | |
07/15/25 | 05/31/25 | 6-K | |
04/14/25 | 02/28/25 | 6-K | |
01/14/25 | 11/30/24 | 6-K | |
11/29/24 | 08/31/24 | 40-F | |
07/15/24 | 05/31/24 | 6-K | |
04/12/24 | 02/29/24 | 6-K | |
01/16/24 | 11/30/23 | 6-K | |
11/29/23 | 08/31/23 | 40-F | |
07/14/23 | 05/31/23 | 6-K | |
04/13/23 | 02/28/23 | 6-K | |
01/17/23 | 11/30/22 | 6-K | |
11/29/22 | 08/31/22 | 40-F | |
07/15/22 | 05/31/22 | 6-K | |
04/14/22 | 02/28/22 | 6-K | |
01/14/22 | 11/30/21 | 6-K | |
12/03/21 | 08/31/21 | 20-F | |
07/15/21 | 05/31/21 | 6-K | |
04/15/21 | 02/28/21 | 6-K | |
01/15/21 | 11/30/20 | 6-K | |
12/02/20 | 08/31/20 | 20-F | |
07/16/20 | 05/31/20 | 6-K | |
04/15/20 | 02/29/20 | 6-K | |
01/15/20 | 11/30/19 | 6-K | |
12/02/19 | 08/31/19 | 20-F | |
07/15/19 | 05/31/19 | 6-K | |
08/11/20 | 05/31/19 | 6-K/A | |
04/12/19 | 02/28/19 | 6-K | |
01/11/19 | 11/30/18 | 6-K | |
11/30/18 | 08/31/18 | 20-F | |
07/13/18 | 05/31/18 | 6-K | |
04/13/18 | 02/28/18 | 6-K | |
01/12/18 | 11/30/17 | 6-K | |
11/29/17 | 08/31/17 | 6-K | |
08/11/20 | 08/31/17 | 20-F/A | |
07/18/17 | 05/31/17 | 6-K | |
04/13/17 | 02/28/17 | 6-K | |
01/13/17 | 11/30/16 | 6-K | |
11/28/16 | 08/31/16 | 20-F | |
12/05/17 | 08/31/16 | 20-F/A | |
07/18/16 | 05/31/16 | 6-K | |
04/11/16 | 02/29/16 | 6-K | |
01/19/16 | 11/30/15 | 6-K | |
12/28/15 | 08/31/15 | 20-F | |
07/16/15 | 05/31/15 | 6-K | |
04/17/15 | 02/28/15 | 6-K | |
01/15/15 | 11/30/14 | 6-K | |
11/03/14 | 08/31/14 | 20-F | |
07/15/14 | 05/31/14 | 6-K | |
04/11/14 | 02/28/14 | 6-K | |
01/10/14 | 11/30/13 | 6-K | |
11/15/13 | 08/31/13 | 20-F | |
07/15/13 | 05/31/13 | 6-K | |
04/15/13 | 02/28/13 | 6-K | |
01/14/13 | 11/30/12 | 6-K | |
11/27/12 | 08/31/12 | 20-F | |
07/16/12 | 05/31/12 | 6-K | |
04/13/12 | 02/29/12 | 6-K | |
02/13/12 | 11/30/11 | 6-K | |
12/12/11 | 08/31/11 | 20-F | |
07/15/11 | 05/31/11 | 6-K | |
04/14/11 | 02/28/11 | 6-K | |
01/14/11 | 11/30/10 | 6-K | |
11/29/10 | 08/31/10 | 20-F | |
07/15/10 | 05/31/10 | 6-K | |
04/14/10 | 02/28/10 | 6-K | |
01/14/10 | 11/30/09 | 6-K | |
11/27/09 | 08/31/09 | 20-F | |
07/16/09 | 05/30/09 | 6-K | |
04/15/09 | 02/28/09 | 6-K | |
11/30/08 | 11/30/08 | Unknown | -- |
12/01/08 | 08/30/08 | Unknown | -- |
05/31/08 | 05/30/08 | Unknown | -- |
02/29/08 | 02/29/08 | Unknown | -- |
11/30/07 | 11/30/07 | 6-K | |
11/30/07 | 08/30/07 | Unknown | -- |
05/31/07 | 05/31/07 | 6-K | |
02/28/07 | 02/28/07 | Unknown | -- |
11/30/06 | 11/30/06 | Unknown | -- |
11/30/06 | 08/30/06 | Unknown | -- |
05/31/06 | 05/30/06 | Unknown | -- |
02/28/06 | 02/28/06 | Unknown | -- |
12/01/05 | 11/30/05 | 6-K | |
08/31/05 | 08/30/05 | Unknown | -- |
05/31/05 | 05/30/05 | Unknown | -- |
02/28/05 | 02/28/05 | Unknown | -- |
11/30/04 | 11/30/04 | Unknown | -- |
02/10/05 | 08/30/04 | Unknown | -- |
05/31/04 | 05/30/04 | Unknown | -- |
02/29/04 | 02/29/04 | Unknown | -- |
11/30/03 | 11/30/03 | Unknown | -- |
08/31/03 | 08/30/03 | Unknown | -- |
05/31/03 | 05/30/03 | Unknown | -- |
02/28/03 | 02/28/03 | Unknown | -- |
11/30/02 | 11/30/02 | Unknown | -- |
08/31/02 | 08/30/02 | Unknown | -- |
05/31/02 | 05/30/02 | Unknown | -- |
02/28/02 | 02/28/02 | Unknown | -- |
11/30/01 | 11/30/01 | Unknown | -- |
08/31/01 | 08/30/01 | Unknown | -- |
05/31/01 | 05/30/01 | Unknown | -- |
02/28/01 | 02/28/01 | Unknown | -- |
11/30/00 | 11/30/00 | Unknown | -- |
08/31/00 | 08/30/00 | Unknown | -- |
05/31/00 | 05/30/00 | Unknown | -- |
02/29/00 | 02/29/00 | Unknown | -- |