HC Wainwright Boosts TRX Gold (NYSE:TRX) Price Target to $1.40

TRX Gold (NYSE:TRX) had its price objective hoisted by HC Wainwright from $1.30 to $1.40 in a report released on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, StockNews.com initiated coverage on TRX Gold in a research report on Tuesday, April 9th. They set a hold rating for the company.

TRX Gold Price Performance

Shares of TRX Gold stock opened at $0.47 on Tuesday. The firm’s fifty day simple moving average is $0.39 and its 200-day simple moving average is $0.38. TRX Gold has a 12 month low of $0.31 and a 12 month high of $0.60. The stock has a market capitalization of $131.09 million, a price-to-earnings ratio of 47.00 and a beta of 0.65.

TRX Gold (NYSE:TRX) last posted its quarterly earnings data on Friday, April 12th. The company reported $0.01 EPS for the quarter. TRX Gold had a net margin of 0.70% and a negative return on equity of 1.66%. The company had revenue of $7.98 million for the quarter, compared to analyst estimates of $9.40 million. Analysts anticipate that TRX Gold will post 0.03 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its holdings in TRX Gold by 51.9% in the 2nd quarter. Renaissance Technologies LLC now owns 995,158 shares of the company’s stock valued at $441,000 after purchasing an additional 339,930 shares in the last quarter. HighTower Advisors LLC raised its stake 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 worth $99,000 after buying an additional 33,690 shares in the last quarter. Millennium Management LLC lifted its holdings 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 buying an additional 211,523 shares during the period. Morgan Stanley boosted its stake in shares of TRX Gold by 19.7% in the fourth quarter. Morgan Stanley now owns 179,454 shares of the company’s stock valued at $61,000 after buying an additional 29,575 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in TRX Gold during the first quarter worth $45,000. 1.06% of the stock is owned by hedge funds and other institutional investors.

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.