TRX Gold (NYSE:TRX) PT Raised to $1.75 at Alliance Global Partners

TRX Gold (NYSE:TRX) had its price objective increased by equities research analysts at Alliance Global Partners from $1.50 to $1.75 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Alliance Global Partners’ target price suggests a potential upside of 302.30% from the stock’s current price.

TRX has been the topic of a number of other reports. HC Wainwright lifted their price objective on TRX Gold from $1.30 to $1.40 and gave the company a “buy” rating in a report on Tuesday. StockNews.com began coverage on shares of TRX Gold in a report on Tuesday, April 9th. They set a “hold” rating for the company.

TRX Gold Stock Performance

Shares of NYSE:TRX traded up $0.02 during midday trading on Tuesday, hitting $0.44. The company’s stock had a trading volume of 248,569 shares, compared to its average volume of 328,668. The stock has a market capitalization of $121.33 million, a price-to-earnings ratio of 43.11 and a beta of 0.65. The stock’s 50 day simple moving average is $0.38 and its 200 day simple moving average is $0.38. TRX Gold has a fifty-two week low of $0.31 and a fifty-two week high of $0.60.

TRX Gold (NYSE:TRX) last released its earnings results on Friday, April 12th. The company reported $0.01 earnings per share for the quarter. TRX Gold had a negative return on equity of 1.68% and a net margin of 0.70%. The business had revenue of $7.98 million for the quarter, compared to the consensus estimate of $9.40 million. As a group, analysts anticipate that TRX Gold will post 0.03 EPS for the current year.

Hedge Funds Weigh In On TRX Gold

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRX. Virtu Financial LLC lifted its position in TRX Gold by 211.1% during the 4th quarter. Virtu Financial LLC now owns 109,558 shares of the company’s stock worth $37,000 after buying an additional 74,338 shares in the last quarter. Bedel Financial Consulting Inc. bought a new stake in TRX Gold during the 2nd quarter worth about $44,000. Morgan Stanley lifted its position in TRX Gold by 19.7% during the 4th 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. Millennium Management LLC lifted its position in TRX Gold by 493.1% during the 4th 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. Finally, HighTower Advisors LLC raised its holdings 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.

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.