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

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

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

TRX Gold Stock Up 2.2 %

Shares of TRX opened at $0.47 on Tuesday. The stock has a market capitalization of $131.09 million, a P/E ratio of 47.00 and a beta of 0.65. TRX Gold has a twelve month low of $0.31 and a twelve month high of $0.60. The company has a 50 day moving average of $0.39 and a 200-day moving average of $0.38.

TRX Gold (NYSE:TRX) last released its quarterly earnings data on Friday, April 12th. The company reported $0.01 EPS for the quarter. The company had revenue of $7.98 million during the quarter, compared to the consensus estimate of $9.40 million. TRX Gold had a negative return on equity of 1.66% and a net margin of 0.70%. On average, sell-side analysts anticipate that TRX Gold will post 0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TRX Gold

Several hedge funds have recently added to or reduced their stakes in TRX. Renaissance Technologies LLC lifted its holdings in TRX Gold by 325.1% during the 1st quarter. Renaissance Technologies LLC now owns 611,000 shares of the company’s stock valued at $189,000 after purchasing an additional 467,274 shares during the last quarter. Integrity Wealth Solutions LLC acquired a new stake in shares of TRX Gold during the first quarter worth $113,000. Millennium Management LLC lifted its holdings in shares of 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. Virtu Financial LLC acquired a new stake in shares of TRX Gold during the first quarter worth $45,000. Finally, Bedel Financial Consulting Inc. acquired a new stake in shares of TRX Gold during the second quarter worth $44,000. 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.