TRX Gold Reports Record Revenue of $25.1 Million in Q1
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 15 2026
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CEO Stephen Mullowney commented: "In Q1, we once again delivered record results, in line with guidance shared last quarter, pouring a record 6,597 ounces of gold and selling 6,492 ounces of gold at an average realized price of $3,860 per ounce, generating revenue of $25.1M, gross profit of $14.2M - 57% margin - and EBITDA of $13.2M - 53% margin-. The strong cash flow in a record gold price environment has enabled us to meaningfully reinvest in TRX Gold's growth. During the quarter, we strengthened our working capital position, advanced plans to upgrade and expand our processing plant to improve our production profile, and increased investment in exploration to further delineate resources at Buckreef Gold. The company is entering a new phase of growth, with improving production scale, stronger margins and a growing resource base. We are very encouraged by the progress and excited about the year ahead."
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Analyst Views on TRX
Wall Street analysts forecast TRX stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for TRX is 1.47 USD with a low forecast of 1.25 USD and a high forecast of 1.75 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 2.180
Low
1.25
Averages
1.47
High
1.75
Current: 2.180
Low
1.25
Averages
1.47
High
1.75
About TRX
TRX Gold Corporation is a Canada-based gold company advancing the Buckreef Gold Project in Tanzania. The Company is engaged in the exploration, development and production of mineral property interests in the United Republic of Tanzania. The Buckreef Project's prospects include Buckreef, Bingwa, Tembo, Eastern Porphyry and Buziba. The Buckreef Project encompasses three main mineralized zones: Buckreef South, Buckreef Main and Buckreef North. The Company produces gold at its 2,000 tons per day processing plant. The Buckreef Gold Project hosts a Measured and Indicated Mineral Resource of 10.8 million tonnes (MT) at 2.57 grams per tonne (g/t) gold containing 893,000 ounces (oz) of gold and an Inferred Mineral Resource of 9.1 MT at 2.47 g/t gold for 726,000 oz of gold. Its Eastern Porphyry and Anfield zones are located approximately 250 m to 700 metres (m) east of the Buckreef Main Zone.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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