TRX Gold (NYSE:TRX) Now Covered by StockNews.com

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

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

TRX Gold Stock Up 14.9 %

Shares of TRX stock opened at $0.47 on Wednesday. TRX Gold has a 12 month low of $0.31 and a 12 month high of $0.60. The firm has a market cap of $132.29 million, a price-to-earnings ratio of 47.48 and a beta of 0.65. The stock has a 50-day moving average price of $0.38 and a 200 day moving average price of $0.38.

TRX Gold (NYSE:TRX) last announced its quarterly earnings data on Friday, April 12th. The company reported $0.01 EPS for the quarter. TRX Gold had a negative return on equity of 1.68% and a net margin of 0.70%. The business had revenue of $7.98 million during the quarter, compared to analysts’ expectations of $9.40 million. Sell-side analysts predict that TRX Gold will post 0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TRX Gold

A number of large investors have recently added to or reduced their stakes in TRX. Renaissance Technologies LLC lifted its position in shares of TRX Gold by 51.9% during the 2nd quarter. Renaissance Technologies LLC now owns 995,158 shares of the company’s stock worth $441,000 after buying an additional 339,930 shares during the last quarter. Bedel Financial Consulting Inc. acquired a new position in shares of TRX Gold in the second quarter valued at approximately $44,000. Virtu Financial LLC lifted its holdings in shares of 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 during the period. Millennium Management LLC grew its stake in shares of TRX Gold by 493.1% in the fourth quarter. Millennium Management LLC now owns 254,416 shares of the company’s stock worth $86,000 after purchasing an additional 211,523 shares during the last quarter. Finally, Morgan Stanley increased its holdings 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 purchasing an additional 29,575 shares during the period. Institutional investors own 1.06% of the company’s stock.

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.