Tanzanian Gold (NYSEAMERICAN:TRX) Stock Crosses Below Fifty Day Moving Average of $0.63

Tanzanian Gold Co. (NYSEAMERICAN:TRX) (NYSEMKT:TRX) crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $0.63 and traded as low as $0.59. Tanzanian Gold shares last traded at $0.60, with a volume of 980,891 shares.

Separately, Alliance Global Partners began coverage on Tanzanian Gold in a research report on Tuesday, February 16th. They set a “buy” rating and a $1.50 price objective for the company.

The stock has a market cap of $150.37 million, a PE ratio of -6.57 and a beta of 0.93. The business has a 50-day moving average of $0.63.

Tanzanian Gold (NYSEAMERICAN:TRX) (NYSEMKT:TRX) last released its earnings results on Thursday, January 14th. The basic materials company reported ($0.01) earnings per share for the quarter.

Hedge funds and other institutional investors have recently bought and sold shares of the business. HighTower Advisors LLC increased its holdings in shares of Tanzanian Gold by 12.1% in the fourth quarter. HighTower Advisors LLC now owns 277,500 shares of the basic materials company’s stock valued at $184,000 after buying an additional 30,000 shares in the last quarter. Guild Investment Management Inc. increased its holdings in shares of Tanzanian Gold by 70.0% in the fourth quarter. Guild Investment Management Inc. now owns 51,000 shares of the basic materials company’s stock valued at $34,000 after buying an additional 21,000 shares in the last quarter. MADDEN SECURITIES Corp raised its stake in Tanzanian Gold by 94.5% during the 4th quarter. MADDEN SECURITIES Corp now owns 221,240 shares of the basic materials company’s stock valued at $146,000 after purchasing an additional 107,500 shares during the period. Finally, LPL Financial LLC raised its stake in Tanzanian Gold by 227.5% during the 3rd quarter. LPL Financial LLC now owns 57,182 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 39,720 shares during the period. 0.90% of the stock is currently owned by institutional investors.

Tanzanian Gold Company Profile (NYSEAMERICAN:TRX)

Tanzanian Gold Corporation engages in the exploration and development 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 located in north-central Tanzania; the Kigosi project situated within the Kigosi-Miyabi and Ushirombo greenstone belts in northwestern Tanzania; and the Itetemia gold project located to the southwest of Mwanza in Northern Tanzania.

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