TRX Gold (NYSE:TRX) Price Target Increased to $1.75 by Analysts at Alliance Global Partners

TRX Gold (NYSE:TRX) had its price target increased by Alliance Global Partners from $1.50 to $1.75 in a report issued on Tuesday, Benzinga reports. Alliance Global Partners currently has a buy rating on the stock.

TRX has been the subject of several other reports. StockNews.com assumed coverage on shares of TRX Gold in a research note on Tuesday, April 9th. They issued a hold rating for the company. HC Wainwright increased their price objective on shares of TRX Gold from $1.30 to $1.40 and gave the company a buy rating in a research report on Tuesday.

TRX Gold Price Performance

Shares of TRX Gold stock opened at $0.47 on Tuesday. The company has a 50-day moving average of $0.38 and a 200 day moving average of $0.38. The firm has a market cap of $132.29 million, a price-to-earnings ratio of 47.48 and a beta of 0.65. TRX Gold has a 1 year low of $0.31 and a 1 year high of $0.60.

TRX Gold (NYSE:TRX) last issued its quarterly 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 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 1.68%. On average, equities analysts anticipate that TRX Gold will post 0.03 EPS for the current year.

Institutional Trading of TRX Gold

Institutional investors have recently made changes to their positions in 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 valued at $441,000 after acquiring 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 valued at $99,000 after acquiring 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 valued at $86,000 after acquiring 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 valued at $61,000 after acquiring an additional 29,575 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of TRX Gold during the 1st quarter valued at about $45,000. Hedge funds and other institutional investors own 1.06% of the company’s stock.

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.