TRX Gold (NYSE:TRX) Price Target Raised to $1.40

TRX Gold (NYSE:TRX) had its target price boosted by HC Wainwright from $1.30 to $1.40 in a research report report published on Tuesday morning, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Separately, StockNews.com initiated coverage on TRX Gold in a research report on Tuesday, April 9th. They set a hold rating on the stock.

TRX Gold Stock Up 3.3 %

NYSE:TRX opened at $0.46 on Tuesday. TRX Gold has a 52 week low of $0.31 and a 52 week high of $0.60. The stock has a market capitalization of $128.61 million, a PE ratio of 46.16 and a beta of 0.65. The stock’s 50-day moving average price is $0.38 and its 200-day moving average price is $0.38.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its holdings 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 purchasing an additional 339,930 shares during the last quarter. HighTower Advisors LLC boosted its holdings 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 during the last quarter. Millennium Management LLC boosted its holdings in shares of TRX Gold by 493.1% during the 4th 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. Morgan Stanley boosted its holdings 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 during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of TRX Gold during the 1st quarter worth approximately $45,000. 1.06% of the stock is owned by hedge funds and other institutional investors.

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.