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

Research analysts at StockNews.com started coverage on shares of TRX Gold (NYSE:TRX) in a report released on Sunday. The firm set a “hold” rating on the stock.

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

TRX Gold Price Performance

NYSE TRX opened at $0.30 on Friday. TRX Gold has a 52 week low of $0.29 and a 52 week high of $0.49. The company has a quick ratio of 0.54, a current ratio of 0.84 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average of $0.36 and a two-hundred day moving average of $0.39.

Institutional Investors Weigh In On TRX Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Virtu Financial LLC acquired a new stake in TRX Gold in the 3rd quarter valued at $52,000. Ground Swell Capital LLC boosted 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 purchasing an additional 48,705 shares during the last quarter. Finally, HighTower Advisors LLC grew its position in TRX Gold by 9.6% in 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. 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.