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

Analysts at StockNews.com began coverage on shares of TRX Gold (NYSE:TRX) in a research report issued on Tuesday. The brokerage set a “hold” rating on the stock.

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

TRX Gold Stock Down 1.9 %

TRX stock opened at $0.33 on Tuesday. TRX Gold has a 12 month low of $0.29 and a 12 month high of $0.49. The firm has a 50 day simple moving average of $0.34 and a 200 day simple moving average of $0.38. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.84 and a quick ratio of 0.54.

Institutional Investors Weigh In On TRX Gold

Several hedge funds have recently made changes to their positions in TRX. Virtu Financial LLC purchased a new stake in TRX Gold in the 3rd quarter worth approximately $52,000. HighTower Advisors LLC lifted its position 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 buying an additional 29,416 shares in the last quarter. Finally, Ground Swell Capital LLC lifted its position in TRX Gold by 201.9% in 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 in the last quarter. Hedge funds and other institutional investors 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.