Tanzanian Royalty Exploration (NYSEAMERICAN:TRX) Shares Down 5.3%

Shares of Tanzanian Royalty Exploration Corp (NYSEAMERICAN:TRX) (NYSEMKT:TRX) dropped 5.3% during trading on Tuesday . The company traded as low as $0.82 and last traded at $0.89, approximately 501,926 shares traded hands during mid-day trading. An increase of 59% from the average daily volume of 316,405 shares. The stock had previously closed at $0.94.

Tanzanian Royalty Exploration (NYSEAMERICAN:TRX) (NYSEMKT:TRX) last issued its quarterly earnings data on Friday, July 12th. The basic materials company reported ($0.01) EPS for the quarter.

A hedge fund recently bought a new stake in Tanzanian Royalty Exploration stock. HighTower Advisors LLC bought a new position in Tanzanian Royalty Exploration Corp (NYSEAMERICAN:TRX) (NYSEMKT:TRX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 245,000 shares of the basic materials company’s stock, valued at approximately $211,000. HighTower Advisors LLC owned about 0.17% of Tanzanian Royalty Exploration as of its most recent filing with the Securities and Exchange Commission.

About Tanzanian Royalty Exploration (NYSEAMERICAN:TRX)

Tanzanian Royalty Exploration 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 interest in the Buckreef project located in the Geita District of the Geita Region south of Lake Victoria; the Buziba project situated in the Geita district; the Itetemia gold deposit located at southwest of Mwanza in northern Tanzania; and the Kigosi project situated within the Kigosi Game Reserve controlled area in northwestern Tanzania.

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