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

Equities researchers at StockNews.com initiated coverage on shares of TRX Gold (NYSE:TRX) in a research report issued to clients and investors on Sunday. The brokerage set a “hold” rating on the stock.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $1.40 price target on shares of TRX Gold in a research note on Tuesday, July 16th.

TRX Gold Price Performance

NYSE:TRX opened at $0.39 on Friday. TRX Gold has a 52 week low of $0.31 and a 52 week high of $0.49. The business’s 50-day simple moving average is $0.40 and its two-hundred day simple moving average is $0.42.

Institutional Investors Weigh In On TRX Gold

An institutional investor recently raised its position in TRX Gold stock. Ground Swell Capital LLC raised its position in shares of TRX Gold Co. (NYSE:TRX) by 201.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,823 shares of the company’s stock after buying an additional 48,705 shares during the period. Ground Swell Capital LLC’s holdings in TRX Gold were worth $29,000 as of its most recent filing with the Securities & Exchange Commission. 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.