Alliance Global Partners Raises TRX Gold (NYSE:TRX) Price Target to $1.75

TRX Gold (NYSE:TRX) had its price target boosted by Alliance Global Partners from $1.50 to $1.75 in a research note released on Tuesday morning, Benzinga reports. Alliance Global Partners currently has a buy rating on the stock.

TRX has been the topic of several other reports. StockNews.com started coverage on shares of TRX Gold in a research report on Tuesday, April 9th. They issued a hold rating on the stock. HC Wainwright lifted their price objective on shares of TRX Gold from $1.30 to $1.40 and gave the company a buy rating in a research report on Tuesday.

TRX Gold Stock Performance

TRX Gold stock opened at $0.47 on Tuesday. The firm’s 50-day moving average is $0.39 and its 200-day moving average is $0.38. TRX Gold has a 1 year low of $0.31 and a 1 year high of $0.60. The company has a market cap of $131.09 million, a P/E ratio of 47.00 and a beta of 0.65.

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. TRX Gold had a net margin of 0.70% and a negative return on equity of 1.66%. The company had revenue of $7.98 million for the quarter, compared to the consensus estimate of $9.40 million. As a group, sell-side analysts predict that TRX Gold will post 0.03 earnings per share for the current year.

Hedge Funds Weigh In On TRX Gold

Several hedge funds have recently made changes to their positions in TRX. Virtu Financial LLC increased its position in shares of TRX Gold by 211.1% in the fourth quarter. Virtu Financial LLC now owns 109,558 shares of the company’s stock worth $37,000 after acquiring an additional 74,338 shares in the last quarter. Bedel Financial Consulting Inc. purchased a new position in shares of TRX Gold in the second quarter worth approximately $44,000. Morgan Stanley grew its position in TRX Gold by 19.7% during the fourth quarter. Morgan Stanley now owns 179,454 shares of the company’s stock valued at $61,000 after purchasing an additional 29,575 shares in the last quarter. Millennium Management LLC grew its position in TRX Gold by 493.1% during the fourth quarter. Millennium Management LLC now owns 254,416 shares of the company’s stock valued at $86,000 after purchasing an additional 211,523 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in TRX Gold by 12.8% during the fourth quarter. HighTower Advisors LLC now owns 297,190 shares of the company’s stock valued at $99,000 after purchasing an additional 33,690 shares in the last quarter. Institutional investors and hedge funds 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.