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

Equities research analysts at StockNews.com initiated coverage on shares of TRX Gold (NYSE:TRX) in a research note issued on Sunday. The firm set a “hold” rating on the stock.

Separately, HC Wainwright reiterated a “buy” rating and issued a $1.40 target price on shares of TRX Gold in a research report on Tuesday, July 16th.

TRX Gold Price Performance

Shares of TRX Gold stock opened at $0.38 on Friday. The company has a 50 day moving average price of $0.40 and a 200 day moving average price of $0.42. TRX Gold has a 52 week low of $0.31 and a 52 week high of $0.49.

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

Hedge Funds Weigh In On TRX Gold

A hedge fund recently bought a new stake in TRX Gold stock. Integrity Wealth Solutions LLC purchased a new stake in shares of TRX Gold Co. (NYSE:TRX) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 291,000 shares of the company’s stock, valued at approximately $113,000. Integrity Wealth Solutions LLC owned approximately 0.10% of TRX Gold at the end of the most recent quarter. Institutional investors and hedge funds own 1.06% of the company’s stock.

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.