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

StockNews.com assumed coverage on shares of TRX Gold (NYSE:TRX) in a research note issued to investors on Sunday. The brokerage issued a hold rating on the stock.

Several other research firms have also recently issued reports on TRX. HC Wainwright upped their price target on TRX Gold from $1.30 to $1.40 and gave the company a buy rating in a report on Tuesday, April 16th. Alliance Global Partners upped their price target on TRX Gold from $1.50 to $1.75 and gave the company a buy rating in a report on Tuesday, April 16th.

TRX Gold Price Performance

Shares of NYSE:TRX opened at $0.43 on Friday. TRX Gold has a 12 month low of $0.31 and a 12 month high of $0.49. The stock’s 50 day moving average price is $0.43 and its 200 day moving average price is $0.40.

TRX Gold (NYSE:TRX) last announced its earnings results on Friday, July 12th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.02). TRX Gold had a negative return on equity of 3.84% and a negative net margin of 3.06%. The firm had revenue of $10.15 million for the quarter, compared to the consensus estimate of $12.50 million. Research analysts forecast that TRX Gold will post 0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in TRX Gold stock. PFG Investments LLC grew its stake in shares of TRX Gold Co. (NYSE:TRX) by 1,103.1% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 228,588 shares of the company’s stock after buying an additional 209,588 shares during the period. PFG Investments LLC owned approximately 0.08% of TRX Gold worth $89,000 as of its most recent filing with the SEC. 1.06% of the stock is owned by hedge funds and other institutional investors.

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.