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

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

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

TRX Gold Trading Down 2.8 %

NYSE:TRX opened at $0.31 on Wednesday. The company has a quick ratio of 0.51, a current ratio of 0.83 and a debt-to-equity ratio of 0.03. TRX Gold has a 1 year low of $0.29 and a 1 year high of $0.49. The stock’s 50 day simple moving average is $0.33 and its two-hundred day simple moving average is $0.38.

Institutional Trading of TRX Gold

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ground Swell Capital LLC increased its stake in TRX Gold by 201.9% during the third quarter. Ground Swell Capital LLC now owns 72,823 shares of the company’s stock worth $29,000 after acquiring an additional 48,705 shares during the last quarter. Virtu Financial LLC purchased a new stake in TRX Gold during the 3rd quarter worth about $52,000. Finally, HighTower Advisors LLC increased its position 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 purchasing an additional 29,416 shares in the last quarter. 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.