TRX Gold (NYSE:TRX) Receives New Coverage from Analysts at StockNews.com

Research analysts at StockNews.com started 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.

TRX has been the topic of a number of other reports. HC Wainwright raised their target price on TRX Gold from $1.30 to $1.40 and gave the stock a “buy” rating in a report on Tuesday. Alliance Global Partners raised their price target on TRX Gold from $1.50 to $1.75 and gave the company a “buy” rating in a report on Tuesday.

TRX Gold Trading Up 14.9 %

TRX stock opened at $0.47 on Wednesday. The stock has a market capitalization of $132.29 million, a PE ratio of 47.48 and a beta of 0.65. TRX Gold has a 12-month low of $0.31 and a 12-month high of $0.60. The stock’s 50 day simple moving average is $0.38 and its 200 day simple moving average is $0.38.

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

Hedge Funds Weigh In On TRX Gold

Large investors have recently made changes to their positions in the business. Bedel Financial Consulting Inc. acquired a new position in shares of TRX Gold during the 2nd quarter worth about $44,000. Virtu Financial LLC raised its holdings in TRX Gold by 211.1% in the 4th quarter. Virtu Financial LLC now owns 109,558 shares of the company’s stock valued at $37,000 after acquiring an additional 74,338 shares during the last quarter. Morgan Stanley raised its holdings in TRX Gold by 19.7% in the 4th quarter. Morgan Stanley now owns 179,454 shares of the company’s stock valued at $61,000 after acquiring an additional 29,575 shares during the last quarter. Millennium Management LLC raised its holdings in TRX Gold by 493.1% in the 4th quarter. Millennium Management LLC now owns 254,416 shares of the company’s stock valued at $86,000 after acquiring an additional 211,523 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in TRX Gold by 770.5% in the 3rd quarter. Renaissance Technologies LLC now owns 289,893 shares of the company’s stock valued at $113,000 after acquiring an additional 256,593 shares during the last quarter. 1.06% of the stock is 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.