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

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

Other equities analysts also recently issued reports about the company. HC Wainwright boosted their price objective on TRX Gold from $1.30 to $1.40 and gave the stock a buy rating in a research report on Tuesday. StockNews.com assumed coverage on TRX Gold in a report on Tuesday, April 9th. They issued a hold rating for the company.

TRX Gold Price Performance

NYSE TRX opened at $0.47 on Tuesday. The company has a market cap of $132.29 million, a P/E ratio of 47.48 and a beta of 0.65. The stock has a 50-day moving average of $0.38 and a two-hundred day moving average of $0.38. TRX Gold has a 1-year low of $0.31 and a 1-year high of $0.60.

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

Hedge Funds Weigh In On TRX Gold

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRX. Renaissance Technologies LLC lifted its stake in TRX Gold by 51.9% in the second quarter. Renaissance Technologies LLC now owns 995,158 shares of the company’s stock valued at $441,000 after buying an additional 339,930 shares during the last quarter. Bedel Financial Consulting Inc. purchased a new stake in TRX Gold in the second quarter valued at approximately $44,000. Virtu Financial LLC lifted its stake in TRX Gold by 211.1% in the fourth quarter. Virtu Financial LLC now owns 109,558 shares of the company’s stock valued at $37,000 after buying an additional 74,338 shares during the last quarter. Millennium Management LLC lifted its stake in TRX Gold by 493.1% in the fourth quarter. Millennium Management LLC now owns 254,416 shares of the company’s stock valued at $86,000 after buying an additional 211,523 shares during the last quarter. Finally, Morgan Stanley lifted its stake in TRX Gold by 19.7% in the fourth quarter. Morgan Stanley now owns 179,454 shares of the company’s stock valued at $61,000 after buying an additional 29,575 shares during the last quarter. 1.06% of the stock is owned by institutional investors and hedge funds.

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.