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

StockNews.com assumed coverage on shares of TRX Gold (NYSE:TRX) in a research note released on Tuesday. The firm issued a hold rating on the stock.

Other research analysts have also recently issued reports about the company. Alliance Global Partners raised their price objective on TRX Gold from $1.50 to $1.75 and gave the stock a buy rating in a research note on Tuesday, April 16th. HC Wainwright restated a buy rating and issued a $1.40 price objective on shares of TRX Gold in a research note on Tuesday, July 16th.

TRX Gold Stock Performance

TRX Gold stock opened at $0.41 on Tuesday. The stock has a 50-day moving average of $0.42 and a two-hundred day moving average of $0.40. TRX Gold has a one year low of $0.31 and a one year high of $0.49.

TRX Gold (NYSE:TRX) last released its quarterly earnings results on Friday, July 12th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). TRX Gold had a negative net margin of 3.06% and a negative return on equity of 3.84%. The business had revenue of $10.15 million during the quarter, compared to analysts’ expectations of $12.50 million. As a group, sell-side analysts forecast that TRX Gold will post 0.01 earnings per share for the current year.

Institutional Trading of TRX Gold

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