TRX Gold (NYSE:TRX) Price Target Raised to $1.40 at HC Wainwright

TRX Gold (NYSE:TRX) had its price target raised by equities research analysts at HC Wainwright from $1.30 to $1.40 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 239.07% from the company’s previous close.

Separately, StockNews.com initiated coverage on TRX Gold in a research report on Tuesday, April 9th. They issued a “hold” rating for the company.

TRX Gold Price Performance

TRX stock opened at $0.41 on Tuesday. The business has a 50 day simple moving average of $0.38 and a 200-day simple moving average of $0.38. The firm has a market capitalization of $115.17 million, a PE ratio of 41.33 and a beta of 0.65. TRX Gold has a 1 year low of $0.31 and a 1 year high of $0.60.

TRX Gold (NYSE:TRX) last posted its quarterly earnings results on Friday, April 12th. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $7.98 million during the quarter, compared to analyst estimates of $9.40 million. TRX Gold had a negative return on equity of 1.68% and a net margin of 0.70%. On average, equities research analysts expect that TRX Gold will post 0.03 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TRX. Morgan Stanley lifted its stake in TRX Gold by 19.7% during the fourth quarter. Morgan Stanley now owns 179,454 shares of the company’s stock worth $61,000 after purchasing an additional 29,575 shares in the last quarter. HighTower Advisors LLC lifted its stake in TRX Gold by 12.8% during the fourth quarter. HighTower Advisors LLC now owns 297,190 shares of the company’s stock worth $99,000 after purchasing an additional 33,690 shares in the last quarter. Virtu Financial LLC lifted its stake in TRX Gold by 211.1% during the fourth quarter. Virtu Financial LLC now owns 109,558 shares of the company’s stock worth $37,000 after purchasing an additional 74,338 shares in the last quarter. Bedel Financial Consulting Inc. acquired a new position in TRX Gold during the second quarter worth $44,000. Finally, Renaissance Technologies LLC lifted its stake in TRX Gold by 34.8% during the first quarter. Renaissance Technologies LLC now owns 655,228 shares of the company’s stock worth $316,000 after purchasing an additional 169,281 shares in the last quarter. 1.06% of the stock is currently owned by institutional investors and hedge funds.

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.