TRX Gold price target raised to $2.25 from $1.25 at Roth Capital

Roth Capital raised the firm’s price target on TRX Gold (TRX) to $2.25 from $1.25 and keeps a Buy rating on the shares. The company has set a course generating cash flow by moving directly to production, minimizing shareholder dilution by funding growth from cash flow, the analyst tells investors in a research note. Given its careful management of financial resources, at current metal prices, it may achieve its initial goal of reaching optimal long-term production without issuing equity, the firm added.