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

TRX Gold (NYSE:TRX) had its price objective hoisted by equities researchers at Alliance Global Partners from $1.50 to $1.75 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Alliance Global Partners’ price objective points to a potential upside of 291.94% from the company’s previous close.

Several other equities research analysts have also recently issued reports on TRX. HC Wainwright raised their target price on shares of TRX Gold from $1.30 to $1.40 and gave the stock a “buy” rating in a report on Tuesday. StockNews.com began coverage on shares of TRX Gold in a report on Tuesday, April 9th. They issued a “hold” rating on the stock.

TRX Gold Price Performance

TRX stock opened at $0.45 on Tuesday. TRX Gold has a 1 year low of $0.31 and a 1 year high of $0.60. The company has a market cap of $124.54 million, a P/E ratio of 44.69 and a beta of 0.65. The firm has a 50-day moving average of $0.38 and a 200 day moving average of $0.38.

TRX Gold (NYSE:TRX) last announced its quarterly earnings data on Friday, April 12th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $7.98 million for the quarter, compared to analysts’ expectations of $9.40 million. TRX Gold had a net margin of 0.70% and a negative return on equity of 1.66%. On average, equities research analysts expect that TRX Gold will post 0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TRX Gold

Several institutional investors have recently bought and sold shares of TRX. Renaissance Technologies LLC grew its stake in shares of TRX Gold by 325.1% in the 1st quarter. Renaissance Technologies LLC now owns 611,000 shares of the company’s stock worth $189,000 after buying an additional 467,274 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of TRX Gold in the 1st quarter worth $45,000. HighTower Advisors LLC grew its stake in shares of TRX Gold by 12.8% in 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. Morgan Stanley grew its stake in shares of TRX Gold by 19.7% in the 4th quarter. Morgan Stanley now owns 179,454 shares of the company’s stock worth $61,000 after buying an additional 29,575 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of TRX Gold by 493.1% during the 4th quarter. Millennium Management LLC now owns 254,416 shares of the company’s stock worth $86,000 after purchasing an additional 211,523 shares during the period. 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.