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

TRX Gold (NYSE:TRX) had its price objective boosted by Alliance Global Partners from $1.50 to $1.75 in a research note issued to investors on Tuesday morning, Benzinga reports. Alliance Global Partners currently has a buy rating on the stock.

Several other research analysts have also commented on the stock. HC Wainwright boosted their price objective on shares of TRX Gold from $1.30 to $1.40 and gave the stock a buy rating in a research note on Tuesday. StockNews.com assumed coverage on shares of TRX Gold in a research report on Tuesday, April 9th. They set a hold rating on the stock.

TRX Gold Stock Performance

NYSE TRX opened at $0.46 on Tuesday. The company’s 50-day simple moving average is $0.38 and its two-hundred day simple moving average is $0.38. TRX Gold has a one year low of $0.31 and a one year high of $0.60. The company has a market capitalization of $128.61 million, a price-to-earnings ratio of 46.16 and a beta of 0.65.

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

Institutional Trading of TRX Gold

Several large investors have recently made changes to their positions in TRX. Renaissance Technologies LLC boosted its holdings in shares of TRX Gold by 325.1% in the 1st quarter. Renaissance Technologies LLC now owns 611,000 shares of the company’s stock valued at $189,000 after acquiring an additional 467,274 shares during the last quarter. Virtu Financial LLC purchased a new stake in TRX Gold during the first quarter worth $45,000. HighTower Advisors LLC boosted its holdings in TRX Gold by 12.8% during the fourth quarter. HighTower Advisors LLC now owns 297,190 shares of the company’s stock worth $99,000 after buying an additional 33,690 shares in the last quarter. Morgan Stanley boosted its holdings in TRX Gold by 19.7% during the fourth quarter. Morgan Stanley now owns 179,454 shares of the company’s stock worth $61,000 after buying an additional 29,575 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in TRX Gold by 493.1% during the fourth quarter. Millennium Management LLC now owns 254,416 shares of the company’s stock worth $86,000 after buying an additional 211,523 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.