TRX Gold (NYSE:TRX) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of TRX Gold (NYSE:TRX) in a research report issued to clients and investors on Wednesday. The firm set a “hold” rating on the stock.

A number of other analysts have also recently issued reports on the stock. HC Wainwright lifted their target price on shares of TRX Gold from $1.30 to $1.40 and gave the company a “buy” rating in a research note on Tuesday. Alliance Global Partners lifted their target price on shares of TRX Gold from $1.50 to $1.75 and gave the company a “buy” rating in a research note on Tuesday.

TRX Gold Stock Performance

TRX stock opened at $0.46 on Wednesday. The stock has a market cap of $128.61 million, a P/E ratio of 46.16 and a beta of 0.65. The firm has a 50 day simple moving average of $0.38 and a 200 day simple moving average of $0.38. TRX Gold has a 52 week low of $0.31 and a 52 week high of $0.60.

TRX Gold (NYSE:TRX) last posted its quarterly earnings results on Friday, April 12th. The company reported $0.01 EPS for the quarter. The business had revenue of $7.98 million during the quarter, compared to analysts’ expectations of $9.40 million. TRX Gold had a net margin of 0.70% and a negative return on equity of 1.66%. Sell-side analysts predict that TRX Gold will post 0.03 EPS for the current year.

Institutional Investors Weigh In On TRX Gold

Institutional investors and hedge funds have recently bought and sold shares of the business. Morgan Stanley increased its position in shares of TRX Gold by 19.7% during the 4th 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 increased its position in shares of TRX Gold by 12.8% during the 4th 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 increased its position in shares of TRX Gold by 211.1% during the 4th 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 stake in shares of TRX Gold during the 2nd quarter worth about $44,000. Finally, Renaissance Technologies LLC increased its position in shares of TRX Gold by 34.8% during the 1st 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. Institutional investors own 1.06% of the company’s stock.

TRX Gold Company Profile

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.