TRX Gold (NYSE:TRX) Coverage Initiated at StockNews.com

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

Separately, HC Wainwright reissued a “buy” rating and issued a $1.50 price objective (up from $1.40) on shares of TRX Gold in a research report on Tuesday, December 3rd.

TRX Gold Trading Down 2.7 %

Shares of TRX opened at $0.30 on Friday. TRX Gold has a 1 year low of $0.29 and a 1 year high of $0.49. The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 0.01. The stock has a 50-day simple moving average of $0.37 and a 200-day simple moving average of $0.39.

Institutional Trading of TRX Gold

A number of hedge funds have recently added to or reduced their stakes in the stock. Ground Swell Capital LLC raised its position in TRX Gold by 201.9% during the 3rd quarter. Ground Swell Capital LLC now owns 72,823 shares of the company’s stock worth $29,000 after buying an additional 48,705 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of TRX Gold by 9.6% during the third 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. Finally, Virtu Financial LLC purchased a new position in TRX Gold during the third quarter worth about $52,000. 1.06% of the stock is owned by institutional investors and hedge funds.

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.