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

Stock analysts at StockNews.com started coverage on shares of TRX Gold (NYSE:TRX) in a research note issued on Thursday. The brokerage set a “hold” rating on the stock.

Separately, HC Wainwright restated a “buy” rating and issued a $1.50 price target (up previously from $1.40) on shares of TRX Gold in a research report on Tuesday.

TRX Gold Stock Up 3.7 %

Shares of TRX opened at $0.36 on Thursday. TRX Gold has a fifty-two week low of $0.31 and a fifty-two week high of $0.49. The firm’s 50 day moving average price is $0.38 and its 200 day moving average price is $0.40.

Institutional Investors Weigh In On TRX Gold

Hedge funds have recently modified their holdings of the company. Ground Swell Capital LLC grew its holdings in TRX Gold by 201.9% in the 3rd quarter. Ground Swell Capital LLC now owns 72,823 shares of the company’s stock valued at $29,000 after buying an additional 48,705 shares during the period. Virtu Financial LLC acquired a new position in shares of TRX Gold during the third quarter worth about $52,000. Finally, HighTower Advisors LLC boosted its holdings in TRX Gold by 9.6% in the 3rd quarter. HighTower Advisors LLC now owns 334,456 shares of the company’s stock worth $130,000 after acquiring an additional 29,416 shares during the period. 1.06% of the stock is owned by institutional investors and hedge funds.

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.