StockNews.com Initiates Coverage on TRX Gold (NYSE:TRX)

StockNews.com started coverage on shares of TRX Gold (NYSE:TRX) in a report released on Wednesday. The brokerage issued a hold rating on the stock.

A number of other research firms also recently weighed in on TRX. HC Wainwright lifted their price target 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 raised their target price on TRX Gold from $1.50 to $1.75 and gave the company a buy rating in a report on Tuesday.

TRX Gold Stock Performance

TRX stock opened at $0.47 on Wednesday. TRX Gold has a one year low of $0.31 and a one year high of $0.60. The company has a fifty day moving average of $0.39 and a 200-day moving average of $0.38. The stock has a market capitalization of $131.09 million, a PE ratio of 47.00 and a beta of 0.65.

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 net margin of 0.70% and a negative return on equity of 1.66%. The firm had revenue of $7.98 million during the quarter, compared to the consensus estimate of $9.40 million. Equities analysts forecast that TRX Gold will post 0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TRX Gold

Hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC grew its holdings 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 purchasing an additional 339,930 shares during the last quarter. HighTower Advisors LLC raised its stake 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 buying an additional 33,690 shares during the last quarter. Integrity Wealth Solutions LLC purchased a new stake in shares of TRX Gold in the 1st quarter worth about $113,000. Millennium Management LLC grew its stake 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, Morgan Stanley increased its holdings in TRX Gold by 19.7% during 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 in the last quarter. 1.06% of the stock is owned by hedge funds and other institutional investors.

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.