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

StockNews.com began coverage on shares of TRX Gold (NYSE:TRX) in a research note published on Wednesday. The firm issued a hold rating on the stock.

A number of other research analysts have also issued reports on the company. HC Wainwright lifted 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 lifted their target price on TRX Gold from $1.50 to $1.75 and gave the stock a buy rating in a report on Tuesday.

TRX Gold Stock Performance

TRX stock opened at $0.45 on Wednesday. The stock has a market capitalization of $124.54 million, a price-to-earnings ratio of 47.01 and a beta of 0.65. TRX Gold has a 1 year low of $0.31 and a 1 year high of $0.60. The stock’s fifty day moving average is $0.38 and its two-hundred day moving average is $0.38.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Virtu Financial LLC boosted its position in shares of 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 purchasing an additional 74,338 shares during the period. Bedel Financial Consulting Inc. acquired a new position in shares of TRX Gold in the 2nd quarter valued at $44,000. Morgan Stanley boosted its position in shares of 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 purchasing an additional 29,575 shares during the period. Millennium Management LLC boosted its position in shares of 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 purchasing an additional 211,523 shares during the period. Finally, HighTower Advisors LLC boosted its position in shares of TRX Gold by 12.8% in the 4th quarter. HighTower Advisors LLC now owns 297,190 shares of the company’s stock valued at $99,000 after purchasing an additional 33,690 shares during the period. 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.