TRX Gold (NYSE:TRX) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of TRX Gold (NYSE:TRX) in a note issued to investors on Wednesday. The brokerage set a “hold” rating on the stock.

A number of other research firms also recently weighed in on TRX. HC Wainwright increased their price target on shares of TRX Gold from $1.30 to $1.40 and gave the stock a “buy” rating in a research note on Tuesday. Alliance Global Partners increased their price target on shares of TRX Gold from $1.50 to $1.75 and gave the stock a “buy” rating in a research note on Tuesday.

TRX Gold Stock Performance

Shares of TRX opened at $0.46 on Wednesday. The company has a market capitalization of $128.61 million, a price-to-earnings ratio of 46.16 and a beta of 0.65. The company’s 50 day simple moving average is $0.38 and its 200 day simple moving average is $0.38. TRX Gold has a 1 year low of $0.31 and a 1 year high of $0.60.

TRX Gold (NYSE:TRX) last announced its quarterly earnings data on Friday, April 12th. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $7.98 million for the quarter, compared to the consensus estimate 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 EPS for the current fiscal year.

Institutional Investors Weigh In On TRX Gold

Several large investors have recently made changes to their positions in TRX. Renaissance Technologies LLC increased its position in shares of TRX Gold by 325.1% in the first quarter. Renaissance Technologies LLC now owns 611,000 shares of the company’s stock worth $189,000 after acquiring an additional 467,274 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of TRX Gold in the first quarter worth $45,000. HighTower Advisors LLC increased its position in shares of TRX Gold by 12.8% in the fourth quarter. HighTower Advisors LLC now owns 297,190 shares of the company’s stock worth $99,000 after acquiring an additional 33,690 shares in the last quarter. Morgan Stanley increased its position in shares of TRX Gold by 19.7% in the fourth quarter. Morgan Stanley now owns 179,454 shares of the company’s stock worth $61,000 after acquiring an additional 29,575 shares in the last quarter. Finally, Millennium Management LLC increased its position 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 acquiring an additional 211,523 shares in the last quarter. Institutional investors and hedge funds own 1.06% of the company’s stock.

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.