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

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

Separately, HC Wainwright reaffirmed a buy rating and set a $1.40 price objective on shares of TRX Gold in a research report on Tuesday, July 16th.

TRX Gold Price Performance

Shares of TRX opened at $0.39 on Tuesday. 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 fifty-two week low of $0.31 and a fifty-two week high of $0.49.

TRX Gold (NYSE:TRX) last posted its earnings results on Friday, July 12th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $10.15 million for the quarter, compared to analysts’ expectations of $12.50 million. As a group, sell-side analysts anticipate that TRX Gold will post 0.01 earnings per share for the current fiscal year.

Institutional Trading of TRX Gold

An institutional investor recently bought a new position in TRX Gold stock. Integrity Wealth Solutions LLC purchased a new position in TRX Gold Co. (NYSE:TRX) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC). 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.